A16z to Raise $4.5 Billion for Crypto Investments – Bitcoin News

A16z, a number one VC firm in crypto, is reportedly ramping up its investments within the subject this yr. The corporate is claimed to be searching for $4.5 billion to put money into totally different cryptocurrency-related funds. This quantity greater than doubles the whole quantity the corporate invested in crypto final yr.

A16z to Double Down on Crypto

A16z will proceed to place funds behind cryptocurrency-related tasks this yr, based on reviews. The VC firm, which focuses its investments on tech-related firms and has greater than $28 billion in property, is seeking $4.5 billion {dollars} to put money into two totally different crypto-related funds this yr.

Based on folks briefed within the exploratory conferences to finish this fund, A16z shall be in search of $3.5 billion to put money into a brand new cryptocurrency fund and $1 billion to energy one other fund directed for seed investments in early-stage startups.

The corporate is reportedly scouting totally different individuals for help to amass these funds, and A16z is claimed to be aiming for April because the month to succeed in the objective. If the corporate actually manages to lift the cash, it could be one of many greatest funds within the historical past of the cryptocurrency scene. Final yr, A16z invested greater than $2 billion in crypto startups. This initiative, if accomplished, can be greater than double the quantity that the corporate invested final yr.

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Crypto Investments and Opposition

A16z has managed to get in some early investments within the cryptocurrency sphere final yr. In August, the corporate invested in an uncollateralized cryptocurrency-based lending platform referred to as Truefi. That very same month, it additionally invested in a play-to-earn guild referred to as Yield Guild video games, which identifies funding alternatives in blockchain video games.

Later, in October, the corporate led a funding spherical for Alchemy, one of many main web3 infrastructure suppliers. And in November, A16z additionally led the Sequence C funding spherical of Legendary Video games, a blockchain gaming firm.

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The curiosity of A16z and different firms in crypto, metaverse, and web3-related tasks has made them a goal of criticism in current instances. Jack Dorsey, the previous CEO of Twitter, has referred to as out those that need to personal the present tackle the metaverse by their investments in startups. Elon Musk additionally criticized the state of web3, stating that it appeared extra a buzzword than a actuality, however that he was enthusiastic about what this motion would possibly convey sooner or later.

What do you concentrate on the brand new funds a16z is aiming to launch later this yr? Inform us within the feedback part under.'
Sergio Goschenko

Sergio is a cryptocurrency journalist primarily based in Venezuela. He describes himself as late to the sport, getting into the cryptosphere when the worth rise occurred throughout December 2017. Having a pc engineering background, residing in Venezuela, and being impacted by the cryptocurrency growth at a social degree, he provides a unique perspective about crypto success and the way it helps the unbanked and underserved.

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Disclaimer: This text is for informational functions solely. It’s not a direct supply or solicitation of a suggestion to purchase or promote, or a advice or endorsement of any merchandise, companies, or firms. doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the creator is accountable, straight or not directly, for any harm or loss brought about or alleged to be attributable to or in reference to using or reliance on any content material, items or companies talked about on this article.

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