Andreessen Horowitz, a private American venture capital firm (also known as a16z), is planning to raise $2 billion for its third crypto fund, Eric Newcomer, a former VC reporter at Bloomberg has learned. According to anonymous sources familiar with the matter, the new funding round might give the fund's leaders, Chris Dixon and Katie Haun, more independence from the rest of the venture firm, which is controlled by Marc Andreessen and Ben Horowitz.
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Initially it was reported that the firm planned to raise between $800 million and $1 billion for a new cryptocurrency-focused VC fund.
The latest fund would be one of the largest pools of capital for crypto and possibly twice the size of its predecessor. As of press time, a16z has not commented its plans for the new VC fund. Earlier, a16z 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.
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