a16z to Raise $1B for New Crypto Fund
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1 May
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Andreessen Horowitz, a private American venture capital firm (also known as a16z), is planning to attract $1 billion for a new cryptocurrency-focused VC fund, the Financial Times has learned. Horowitz's third cryptocurrency fund is reportedly planning to raise between $800 million and $1 billion from investors.

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The latest fund would be one of the largest pools of capital for crypto and possibly twice the size of its predecessor, the Financial Times estimated. As of press time, a16z has not commented its plans for the new VC fund. Last April, Andreessen Horowitz raised $515 million for its second cryptocurrency fund. The fund was focused on next generation payments, modern store of value, decentralized finance (DeFi), Web 3 and other digital areas.

NFT Marketplace OpenSea Announces $23M Investments led by a16z

As iHodl earlier reported, Dapper Labs, the blockchain-focused company behind NBA Top Shot, a crypto-collectible, raised $305 million in a new funding round led by Coatue. The company also attracted investments from a16z, Michael Jordan, Ashton Kutcher, Will Smith and many others.

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