Dfinity Blockchain Startup to Build ‘World Computer’? a16z’s Andreessen Horowitz and Polychain Seem to Think So
VC Expert, Andreessen Horowitz Largely Invests in Startup, Dfinity Foundation
Bloomberg has recently described the specs of Venture Capitalist, Andreessen Horowitz’s contribution in blockchain startup, Dfinity Foundation. While the exact amount remains covered up, it was revealed that Horowitz’s confidence in the startup’s ability to revolutionize the Internet was an important reason.
As per the report, Dfinity Foundation raised USD$102 million in a private token sale to accredited investors, as opposed to conducting an Initial Coin Offering (ICO), which the firm avoided to regulatory concerns. Many well-established projects have also contributed during its fundraising, some of which were noted as Polychain Capital, SV Angel, Aspect Ventures and Multicoin Capital to name the least.
While the crypto sphere has taken hard hits for most of 2018, several crypto supporters and firms have found comfort in investing in blockchain projects. The report suggested that blockchain firms received an accumulated $16 billion in funding alone.
In addition to Dfinity Foundation’s massive support, Andreessen Horowitz showed interest for the team involved, as it involves former engineers who’ve been part of successful projects such as Alphabet Inc. and Uber Technologies, as well as Yale graduates.
Dfinity Foundation’s tokens were apparently sold at $4.18 during this respective fundraising round and based on a telephone interview given by President of Dfinity, Dominic Williams’ an airdrop of $35 million tokens was freely distributed to its community as well.
Ultimately, Dfinity’s goal revolves around being the leader of “next generation of software and services.”