Established by Marc Andreessen and Ben Horowitz over 10 years ago, the firm looks to start its second crypto investment fund, hoping to garner $450 million in capital for the endeavor, Financial Times said in an April 14 article, citing sources familiar with the situation.
The firm is known in crypto
Also going by the name a16z, Andreessen Horowitz provides tech companies and visionaries with funding. The outfit has three funds used for investment in startups and the like, including the $350M Crypto Fund.
A part of Facebook’s Libra Association, the firm is also involved in that project’s funding, the Financial Times article noted.
The fresh fund is not finalized
As the world currently awaits further direction from leaders on forward proceedings regarding coronavirus measures, markets across the board have rebounded somewhat. Tech investors, however, are proceeding with caution given the circumstances, the article said.
Back in December, a16z announced its free crypto startup school, shining a light on the industry.