One of the leading venture capital firms of Silicon Valley Andreessen Horowitz (a16z) cryptocurrencies following closely.
In this context, the company established 4 funds to invest in cryptocurrencies last year.
In May, it announced its latest $4.5 billion crypto fund, the largest ever crypto fund for such investments.
However, a16z, which rose in cryptocurrencies, was affected by the bear market and crypto- The value of the fund fell.
According to the Wall Street Journal, a16z’s major crypto fund has lost nearly 40% of its value in the first half of this year.
According to those familiar with the matter, the decline experienced by the a16z fund is much larger than the 10% to 20% drop suffered by other venture funds that have largely avoided buying risky volatile cryptocurrencies.
Chris Dixon, founder of the a16’z crypto arm, told the WSJ that he was unaffected by the drop in crypto prices.
“I think the crypto industry is still in the early stages of user acquisition. I don’t know exactly when mass adoption of blockchain services will occur.
But we have a very long-term horizon regarding the crypto industry.
It’s not the prices I’m looking at here. I am looking at entrepreneurial and developer activities.”
Comparing the crypto money investments of a16z by years, it was seen that the company participated in 26 crypto money and blockchain VC deals in the 4th quarter of 2021, while this number decreased to 17 in the first and second quarters of 2022.
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