Andreessen Horowitz, an elite Silicon Valley venture capital firm, is planning to launch a separate fund to buy and sell crypto assets.
Two job vacancies (legal counsel and a finance and operations manager) reveal that the firm is hiring for a “separately managed fund focusing on crypto assets.”
“The move could be a significant broadening of the high-profile firm’s mission, and would serve as another big industry moment as investors seek to capitalize on the flurry of activity in cryptocurrencies, which some see as the next wave of innovation,” Recode writes.
The job postings did not specify how much this fund would gather under management, or when it would begin investing.
Andreessen Horowitz also doesn’t define “assets” in the job postings, so, according to Recode, it’s possible that the firm could choose to run its token- and blockchain-related startup investing out of this pool of capital, as well. Plus, the industry could look very different in just a few years.
The company has declined to comment.
Andreessen Horowitz is one of the most active venture capital firms in cryptocurrency investing, under a team led by general partners Chris Dixon and Alex Rampell, who are considered “guiding lights” in Silicon Valley when it comes to understanding the asset class. Andreessen Horowitz investments range from Ripple to newer deals like CryptoKitties.
By Jade Olafson