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Andreessen Horowitz Establishes $4.5B Crypto Fund, Its Fourth

source-logo  coindesk.com 25 May 2022 08:57, UTC

Andreessen Horowitz has announced a new $4.5 billion fund that will invest in cryptocurrency and Web 3 companies, according to an official statement.

The fund is the firm's fourth to target digital assets, with over $7.6 billion being raised in total.

Of the $4.5 billion, $1.5 billion will going towards seed investments and the rest being set aside for venture investments.

"We think we are now entering the golden era of web3," the company said, adding that it's "excited" about developments in blockchain gaming, DeFi, decentralized social media and NFTs.

Previous funds were raised in June of last year and in April of 2020, both of which came shortly after crypto market downturns.

Bitcoin is currently down 56% from a peak in November, whilst altcoins like SOL and AVAX – to name just two – have shredded more than 80% in respective market caps.

See also: Andreessen Horowitz Rakes In $2.2B for Third Crypto Venture Fund

Update: 12:50 UTC. Added details on the firm's interest in specific sectors and market information.

coindesk.com