Cryptocurrency-friendly venture capital firm Andreessen Horowitz plans to invest around $3.4 billion in early-stage investments, according to a report from Axios. Accordingly, Andreessen Horowitz aims to invest $3.4 billion for its next early stage funds.
VC plans to fund cryptocurrency and biotools
Silicon Valley venture capital firm (VC) Andreessen Horowitz has allocated approximately $3.4 billion for its next core early-stage and seed-stage funds, Axios reported, citing sources. This amount will represent a light investment compared to “previous efforts,” according to the report. According to Axios, the firm plans to roll out new growth, crypto and bio products in 2025.
The report also notes that Andreessen Horowitz will ask “limited partners to invest through a new core product that will feed sub-funds (including some of its industry-specific vehicles).” Meanwhile, VC did not make a more detailed statement on the issue. cryptokoin.comAs you follow from , Andreessen Horowitz has been involved in high-profile companies and projects such as Coinbase, Mythical Games and MakerDAO through its a16z cryptocurrency arm. Thus, he has emerged as one of the most prolific investors in the Blockchain space.
VC flow to crypto dropped!
The amount of venture capital flowing into crypto and Blockchain focused companies has now slowed down significantly. The long-term bear market that affected the sector was also effective in this. August marked the fourth month in a row that venture capital pouring money into crypto decreased. This was also the lowest monthly volume on record since January 2021. Meanwhile, Blockchain Capital, a Northern California-headquartered VC firm like Andreessen Horowitz, recently announced that it has raised $580 million for two new cryptocurrency investment funds.
A16z Crypto leads seed round for web3 startup IYK
IYK is a web3 startup that provides brands like Adidas and Johnnie Walker with tools to help them bridge the physical and digital worlds. The company raised $16.8 million in seed funding led by A16z Crypto late last month. Cryptocurrency project IYK made a statement regarding the fund in question. In this statement, he said that other investors in the round were 1kx, Collab Currency, Lattice Capital and Gmoney. According to its website, IYK was an alumnus of a16z Crypto Startup School, the venture capital giant’s accelerator program that typically invests $500,000 in participating startups in exchange for 7% equity.
To be informed about the latest developments, follow us twitter‘in, Facebookin and InstagramFollow on and Telegram And YouTube Join our channel!