Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Venture Behemoth Andreessen Horowitz Targets $ 1,000,000,000 to New Crypto Investment Fund

Venture Behemoth Andreessen Horowitz Targets $ 1,000,000,000 to New Crypto Investment Fund

Venture capital giant Andreessen Horowitz reportedly plans to establish a new billion-dollar fund aimed at the growing cryptoecosystem.

London-based news channel Financial Times quotes four people familiar with the matter as saying the new fund aims to raise between $ 800 million to $ 1 billion to invest in cryptocurrencies as well as cryptocurrencies.

With the target amount, Andreessen’s third crypto-investment fund could be almost twice as large as the $ 515 million Crypto Fund II, which the VC giant launched for crypto networks and companies last year.

It could also make the new fund one of the largest capital pools focusing on crypto and compete with investment firm Paradigm, which raised a total of $ 1

billion from investors.

Andreessen is building up the investment fund after investing in Coinbase successfully. The Silicon Valley-based company is one of the two largest external investors in the cryptocurrency exchange along with Union Square.

Coinbase is now valued at nearly $ 60 billion after debuting on the Nasdaq earlier this month. Regulatory applications show that Andreessen has sold nearly $ 120 million of his stake in the cryptocurrency exchange since it was announced.

The report comes weeks after CoinShares CSO Meltem Demirors predicted that early Coinbase investors are likely to reinvest their profits back into the crypto markets.

The Coinbase IPO will prick hundreds, if not thousands, of multimillionaires and billionaires who all love crypto and are likely to take some of their revenue and continue to invest in the crypto ecosystem.

There really is this lovely recursive effect where this industry is not just about the assets. It’s really about the companies we’ve been investing in for almost a decade now. ”

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