Venture capital giant Andreessen Horowitz (a16z) announced Thursday a whopping $2.2 billion for its much anticipated Crypto Fund III.
The fund was initially rumored to be $1 billion. Later reports put it at $2 billion. The announced amount would suggest now’s a good time to be raising money for crypto investments.
“This fund allows us to find the next generation of visionary crypto founders, and invest in the most exciting areas of crypto.,” a16z’s Chris Dixon and Katie Haun wrote in a blog post. “We invest in all stages, from early seed-stage projects to fully developed later-stage networks.”
A16z has been among the most active investors in the crypto industry in recent years. As an early investor in Coinbase, it reaped enormous profits for its limited partners when the crypto exchange went public in April.
This is a developing story and will be updated.
Source: Coindesk
