It has been claimed that Andreessen Horowitz (a16z) intends to raise $3.4 billion for its upcoming early- and seed-stage venture funds. By assets under management, the biggest venture capital firm is anticipated to begin fundraising by the end of this year and close it in the first half of 2024. A16z is mostly recognised for its investment concentration on technology, social media platforms, and the rapidly growing AI industry. But the company’s portfolio also includes investments in cryptocurrency-related businesses and projects.
A16z has made significant cryptocurrency investments in companies like Layer Zero, OpenSea, Aptos, Coinbase, Avalanche, and Worldcoin. According to Axios, cryptocurrency investing will remain a top priority as new investment vehicles are anticipated to launch in 2025. SmlXL, a cryptocurrency the company just invested in, raised $13.4 million towards the end of October. NFT-focused business IYK raised $16.8 million in seed funding in September 2022 from a16z Crypto, Collab Currency, Lattice Capital, 1kx, Synergis Capital, and other investors.
Additionally, A16z is becoming more interested in the UK market. In response to a request for consultation on cryptocurrency legislation in February, the venture firm replied to the UK government in May. A16z condemned US regulators for depending on the “difficult to enforce” Howey test for its securities regulation framework and encouraged the nation to reject a “one-size-fits-all” approach.