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Tuesday, June 22, 2021

Crypto fund to be increased for $1 billion by Andreessen Horowitz

Andreessen Horowitz is a venture capital firm in Silicon Valley – one the most famous venture capital company. As such, the company has set out a goal of increasing the crypto funds by $800 million up to $1 billion thus marking this as Horowitz’s 3rd and biggest campaign after it launched $300 million and $515 million crypto startups back in 2018 and 2020.

Horowitz is raising crypto funds in a bid to control the sector’s current tailwind. Crypto startups’ increase and crypto trade Coinbase have collected more incomes in Q1 than all of 2020 by increasing its holdings by $15 billion due to its quick growth in market.

There have been previous investments in the crypto space and they have proved to be successful, which is why Horowitz is trying to make this happen again. In 2012, its bet in Coinbase was worth $11.2 billion, with half the amount of capital funds that the VC increased due to its investors throughout 12 years.

Apart from this, there are other funds that have grown their dedication to the crypto space, one of them being Pantera Capital which has set a goal of raising $600 million after raising $175 million crypto funds back in 2018.

The current statements by Horowitz and its fellows will facilitate the crypto raises in the upcoming months which will mark a new funding record in 2021, by leaving behind the record of $6.9 billion which was set back in 2018. These projects will look striking to VCs all thanks to FIs testing the latest crypto products as well as the crypto funds of businesses.

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