a16z aims to raise $2 billion for its third crypto fund: report

advertisement

Andreessen Horowitz's third crypto fund could garner $2 billion if all goes according to plan, sources told venture capital writer Eric Newcomer for his newsletter. 

Last month, a report from the Financial Times indicated that the a16z-led crypto fund would draw anywhere from $800 million to $1 billion, as The Block previously noted. 

A16z has already poured a substantial amount of its capital into crypto startups, with a recent focus on network scaling and non-fungible tokens (NFT) marketplaces. 

The most recent investments were $8 million toward the NFT platform startup RTFKT on May 5, with $23 million put toward the more prominent OpenSea NFT marketplace on March 18. A16z has invested in other digital collectible projects like Dapper Labs and CryptoKitties in the past. 

In addition to NFT marketplaces, a16z’s crypto portfolio includes investments in crypto infrastructure like Bitcoin and Ethereum, DeFi projects such as Uniswap and exchanges like Coinbase.

Related Reading

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

TRON USDC now available

Delivering on a vision for an interoperable global standard for dollar digital currency, Circle and TRON have partnered to make USD Coin (USDC) available on the TRON blockchain, which has grown to more than 56 million accounts and nearly 2.5 billion transactions since its founding just four years ago. TRON is home to a broad ecosystem for digital assets in Asia and around the world, and the TRON community can now benefit from easy access to the world's fastest-growing, regulated dollar digital currency. 
Read Full Story
Sponsored Post

Layer-1 Platforms: A Framework for Comparison

The Block Research was commissioned by Algorand to create Layer-1 Platforms: A Framework for comparison, which provides a “look under the hood” at seven platforms: Algorand, Avalanche, Binance Smart Chain, Cosmos, Ethereum/Ethereum 2.0, Polkadot, and Solana. We assess their technical design, related ecosystem data, and qualitative factors such as key ecosystem members to get an understanding of how they differ. Having done this analysis, we draw some insights for what the future of the broader smart contract landscape could look like for years to come. 
Read Full Story
Aug 11, 2021, 5:18PM UTC
More