cointelegraph.com
Tech-focused venture capital firm Andreessen “a16z” Horowitz said it raised over $15 billion to invest in companies and technologies it sees as critical to secure America’s future and win the next century — and crypto remains a key part of that mission.
In a post to X Friday, a16z co-founder Ben Horowitz, acknowledged that China and other competitors have caught up to the US in recent decades and that America must continue to innovate to preserve its technological, economic, and military dominance:
“As the American leader in Venture Capital, the fate of new technology in the United States rests partly on our shoulders. Our mission is ensuring that America wins the next 100 years of technology. That starts with winning the key architectures of the future – AI and crypto.”
Horowitz said alignment between the US government and the private sector is crucial to defend American interests, warning that failure could cost the country its dominance:
“If America fails to win technologically, it will lose economically, militarily, geopolitically, and culturally. And the entire world will lose as well.”
“We have already seen the beginnings of this in both AI and crypto.” Horowitz said, warning that swift action is necessary to reverse the trend before it’s too late.
A16z’s Crypto fund left out, but crypto investing still possible
The funds will be distributed across several verticals, including Growth ($6.75 billion), Apps and Infrastructure ($1.7 billion each), American Dynamism fund ($1.18 billion), and Bio and Healthcare ($700 million).
Another $3 billion will be used for other venture strategies.
While the a16z Crypto fund didn’t receive funds in this round, many of the crypto companies it has invested in are part of its Growth fund, which spans multiple industries.
Babylon secures $15 million from a16z
In a separate investment, a16z put $15 million into Bitcoin staking and lending protocol Babylon on Wednesday in an effort to support the development of the Bitcoin decentralized finance ecosystem and make the cryptocurrency a more productive asset.