Andreessen Horowitz’s crypto, Web 3.0 warchest swells to US$7.6B

a16z crypto said its fourth fund raised US$4.5 billion, bringing the total amount of funds raised for investment in crypto and Web 3.0 startups by the famed Silicon Valley venture capital firm to more than US$7.6 billion.

See related article: Binance, a16z among investors backing Musk’s Twitter bid with US$7B

Fast facts

  • Around US$1.5 billion of the new fund will be allocated to seed investments, while the remaining US$3 billion will be used for venture investments in the sector, Andreessen Horowitz, now known as a16z, said.
  • The firm has invested in some of the biggest Web 3.0 companies, including Coinbase, non-fungible token (NFT) marketplace OpenSea, Dapper Labs and Sky Mavis, the developer of the NFT game Axie Infinity.
  • Despite the recent crypto market crash, a16z Crypto believes “we are now entering the golden era of Web3,” according to its announcement.
  • The firm that it will also continue to grow its research, engineering, security, talent, legal, and marketing team to help Web 3.0 founders.

See related article: New US$1B crypto fund lands backing from a16z, Solana founders