Andreessen Horowitz Launches $300 Million Crypto Fund

Announced on June 25, 2018, Andreessen Horowitz is launching a $300 million fund dedicated to cryptocurrency-related ventures.

A Silicon Valley venture capital firm, Andreessen Horowitz was one of the first to invest in major companies leading the technology sector today, including Facebook, Airbnb, Github, and Coinbase.

Expanding their field of vision toward the future of digital assets and their underlying blockchain technology, a16z announced plans to launch a $300 million venture fund for investing in crypto-related companies and blockchain startups.

If there is another "crypto winter," we'll keep investing aggressively.

Through the a16z crypto fund, the Silicon Valley investment vanguard plans to offer its extensive support services for projects at all stages of development - providing access to various operating teams with expert management and legal advisory.

An industry-forward fund, Andreessen Horowitz seeks to look beyond the short-term returns of ICOs and invest only in projects that have long-term, applicable use-cases.

"Crypto is a global phenomenon, with great projects all around the world, and we'll invest accordingly. We are focused on non-speculative use case. We want services powered by crypto protocols to be used by hundreds of millions and eventually billions of people. Crypto tokens are the native asset class of digital networks, but their value is driven by the underlying, practical uses cases."

Kathryn Haun, a former federal prosecutor with the U.S. Department of Justice and head of the government's first cryptocurrency task force, is taking the lead of the a16z crypto fund along with other general partners of the firm.

"We find ourselves consistently surprised and excited by the wide variety of creative crypto ideas we encounter. For those of us who have been involved in software for a long time, it feels like the early days of the internet, web 2.0, or smartphones all over again."

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