Andreessen Horowitz Launches New Crypto Investment Fund

The Venture capital firm Andreessen Horowitz plans to launch a second fund in support of cryptocurrency startups. The fund is $ 450 mln worth, its formation is planned to be completed in a week.

Recall that the company Andreessen Horowitz was one of the first to create a crypto fund in 2018. It managed to attract $350 mln for investments in crypto companies and blockchain startups. In addition, the American venture company was one of the first to support the Libra project from Facebook, and today Andreessen Horowitz is a member of the Libra Association. In November last year, the company opened a school for training entrepreneurs on cryptocurrencies. This move underlines the company's commitment to the cryptocurrency industry.

Experts believe that the $450 mln crypto fund amid the COVID-19 crisis seems to be a very risky bet. 80% of crypto startups are on the verge of bankruptcy. It was also noted that, before the pandemic, the venture capital funding for crypto companies fell by 40%.

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