Silicon Valley, California-based enterprise capital agency Andreessen Horowitz (a16z) is trying to increase $4.5 billion for brand spanking new funds, reports Yahoo Finance!. The corporate informed its traders that it’s in search of $3.5 billion for a crypto enterprise fund.
Andreessen intends to finalize the most recent funds by March, the agency declined to remark. If issues go in keeping with plan, the corporate’s haul would effectively overtake some other funds raised to make early bets on cryptocurrency start-ups.
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The fund will surpass the $2.2 billion it raised in June final yr for its Crypto Fund III. It was the most important within the trade on the time.
Andreessen Horowitz targets $1 billion fund
The Yahoo report provides that the corporate targets one other $1 billion in funding to spend money on seed funding for digital asset startups.
The report additional added that the above discussions had been held final week.
The brand new crypto funds could be the trade’s largest, surpassing the $2.5 billion raised by Paradigm in November. It arrived weeks after Katie Haun, an a16z accomplice, stated she was leaving the corporate to start out her personal enterprise capital company.
Andreessen Horowitz backs daring entrepreneurs constructing the long run via know-how. The corporate goals to attach entrepreneurs, traders, executives, engineers, teachers, trade specialists, and others within the know-how ecosystem, in keeping with its official website.
The corporate plans to spend money on Topography Well being
Earlier within the day, the corporate posted on its weblog that it plans to spend money on Topography well being. The weblog put up learn, “We’re excited to spend money on Topography Well being. CEO Alexander Saint-Amand and crew are constructing a managed market to enhance the throughput and variety of scientific trials. ” Learn the entire blog post here.
Andreessen Horowitz funds in each early-stage startups and established development companies. Its belongings span the cellular, cryptocurrency, gaming, social, e-commerce, training, and enterprise IT industries