Andreessen Horowitz plans $1bn cryptocurrency VC fund

Andreessen Horowitz, one of Silicon Valley’s highest profile venture capital firms, is looking to raise a fund of as much as $1bn to invest in cryptocurrencies and crypto start-ups, after the success of its investment in Coinbase. The new fund, Andreessen’s third that is focused on cryptocurrency investments, is aiming to raise between $800m and $1bn from investors, according to four people with knowledge of the process. That would make it one of the largest pools of capital dedicated to crypto and potentially twice the size of its predecessor. The firm declined to comment. Andreessen’s fundraising push comes as other cryptocurrency investors are raising large war chests, spurred on by a surging market in bitcoin, ethereum and other digital assets. Cryptocurrency venture capitalists have begun to realise gains from Coinbase, the digital currency exchange which went public earlier this month and is currently valued at almost $60bn, and from direct investments in virtual currencies that have surged in value over the past 12 months. Those returns have encouraged institutional investors such as endowments and foundations to renew their bets on the emerging technologies, in spite of the uncertain regulatory environment for large swaths of the market. Original full post on: https://ethones.blogspot.com by https://ethones.com & https://officiale.webs.com

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