VC giant Andreessen Horowitz has declared their plans to start a new $2.2 billion fund concentrated on the cryptocurrency business.
Abruptly, three years after announcing its first crypto-linked commodity, the private US enterprise capital company a16z has declared intentions to double down through a ‘wholly optimistic’ digital cryptocurrency fund. The firm’s associate called the corporation ‘the future of finance.”
Established in 2009, Andreessen Horowitz is a project capital giant running from California that has already started various pro-cryptocurrency products. It has also initially engaged in the funding rounds of several DeFi protocols, as well as Uniswap.
As stated by CNBC report from June 24th, a16z plans to issue its biggest fund targeted on cryptocurrency yet. Its antecedent funds will be $2.2 billion, which the company plans to dispense across blockchain and cryptocurrency start-ups.
“The size of this fund speaks to the size of the opportunity before us: crypto is not only the future of finance but, as with the internet in the early days, is poised to transform all aspects of our lives.” – stated Katie Haun and Chris Dixon, who manage the firm’s digital assets arm.
In spite of the market’s disreputable giant instability which saw prices correct with whole numbers at some point, Huan and Dixon assume the next “wave of computing revolution will be steered by crypto.”
To this effect, they referred to the new fund as a “radically optimistic” enterprise with big hopes for the company..
In addition, Andreessen Horowitz has employed various new workers for the fund, as well as previous Securities and Exchange Director Bill Hinman.