Andreessen Horowitz Raises $ 515 Million for …

Andreessen Horowitz Raises $ 515 Million for …

Andreessen Horowitz Raises $ 515 Million For A New Crypto Fund, Beating Expectations By $ 65 Million

Investment company Andreessen Horowitz this Thursday closed fundraising for its second cryptocurrency fund at $ 515 million, exceeding initial expectations, writes Fortune. Earlier it was assumed that the company will focus on the value of $ 450 million.

Like the first crypto fund, for which Andreessen Horowitz raised $ 300 million in 2018, the new fund will invest in blockchain projects. Whether the company has already chosen the first candidates for its funding is not specified in the publication.

“Very rarely do major new computer paradigms emerge. We believe that this space is on a par with cloud and mobile technologies in the context of the Internet, ”said Chris Dixon, general partner of the foundation..

He also noted that he expects to launch many new blockchains in the coming years. In particular, Dixon highlighted the Dfinity blockchain cloud computing platform, which the firm funded from its first fund..

Andreessen Horowitz was one of the first large firms to support bitcoin and blockchain. In January 2014, co-founder Marc Andreessen wrote a column for the New York Times, in which he spoke about the prospects for cryptocurrency..

Since that time, Andreessen Horowitz has invested in Bitcoin, Ethereum, other cryptocurrencies and projects, including Maker DAO, Compound, Celo, Coinbase, Filecoin and Anchorage.

Andreessen Horowitz Raises $ 515 Million for ...

Last year, Andreessen Horowitz confirmed its seriousness by registering as a financial advisor with the US Securities and Exchange Commission (SEC). This move opened up an opportunity for the firm to invest up to $ 1 billion in high-risk assets, including cryptocurrencies..

Former attorney and board member of the Libra Association Katie Haun is also among the leaders of the new foundation. She declined to talk about the success of the first fund, but noted that the company is going to adhere to a long-term investment strategy covering up to 10 years.

Last November, Andreessen Horowitz in collaboration with Paradigm, Galaxy Digital and Facebook announced the launch of a school of crypto startups.

Andreessen Horowitz Raises $ 515 Million for ...

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