Silicon Valley Venture Capital Firm Andreessen Horowitz Launches $2.2B Crypto Fund

Andreessen Horowitz announced a new $2.2 billion cryptocurrency-focused fund this week, in order to invest in a volatile ecosystem it’s betting will be as influential as the internet.

“We believe that the next wave of computing innovation will be driven by crypto,” Andreessen Horowitz partners Katie Haun and Chris Dixon said.

The firm, which was founded by Marc Andreessen and Ben Horowitz, launched its first crypto-focused fund three years ago.

The firm plans to deploy the capital from its latest crypto fund across blockchain and digital asset start-ups.

“The size of this fund speaks to the size of the opportunity before us: crypto is not only the future of finance but, as with the internet in the early days, is poised to transform all aspects of our lives,” Katie Haun and Chris Dixon, partners who run Andreessen’s cryptocurrency group, wrote in a blog post.

The partners wrote that they’re “radically optimistic about crypto’s potential.”
Andreessen Horowitz is known for early bets on companies like Facebook, Instagram, Lyft and Pinterest.

The firm made its first move into the digital asset space through Coinbase in 2013, which went public earlier this year.

Andreessen Horowitz also announced a wave of new hires for the fund, including former Securities and Exchange Director Bill Hinman, who will join the firm as an advisory partner.

Rachael Horwitz, who led communications at Twitter, Google and Facebook, has also joined as an operating partner.

Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.