Andreessen Horowitz Garners $2.75 Billon in Capital To Start Two New Crypto-Minded Funds

Andreessen Horowitz, a recognized venture capital firm, was able to raise $2.75 billion for two new funds. The information was released by the company on May 1st. They want to back bold entrepreneurs that are building our future through technology.

Andreessen Horowitz Launches Two New Funds

The new $2 billion funds will go to a late-stage venture fund that is headed by the company’s general partner David George. At the same time, the remaining $750 million will be used to fund early-stage enterprises, consumer and fintech offerings.

The company commented on the plans they have:

“If early-stage venture is about asking ‘What if it works?’ later-stage venture is also about asking ‘Is it working”?’ And just as early-stage investing requires deep vertical expertise, later-stage venture requires deep expertise in the financial evaluation of businesses.”

In addition to it, they explained that they have invested as much as $100 million in later-stage opportunities and that this is not a new area of investments for them. The main difference to what they were doing in the past is that this fund will ultimately be trying to find these new opportunities to invest in.

According to the managing partner Scott Kupor, cryptocurrencies were still in its nascency when the company launched in 2013. a16z has already backed a large number of ventures such as blockchain projects and Initial Coin Offerings (ICOs). One of the companies in which a16z invested in is MakerDAO (MKR) that has created the stablecoin Dai (DAI).

Other blockchain startups with a16z investments include DFINITY and Oasis Labs. The company has also invested in Bitcoin (BTC) and Ethereum (ETH), among other startups.

Andreessen Horowitz has also announced that it is restructuring the firm by registering all the employees that it has as qualified financial advisors. They are also renouncing their former status as a venture capital firm.

Investments in digital currencies will be very important for the development of the crypto and blockchain space. They are going to be growing during the following years after a very hard 2018.