Andreessen Horowitz launches third crypto fund worth $2.2 billion

The leading Silicon Valley venture firm Andreessen Horowitz (a16z) has launched its third cryptocurrency fund with $2.2 billion in assets.

Announcing Crypto Fund III, our new fund to support the next generation of visionary crypto founders across all stages.

Read more from General Partners @cdixon and @katie_haun on what’s next for a16z Crypto. https://t.co/HEYq0eNupC

— a16z (@a16z) June 24, 2021

In a blog post, representatives of a16z noted the revolutionary potential of blockchain and cryptocurrencies, their ability to transform all aspects of human life.

The firm believes that the technology will restore trust and create a new form of governance based on collective decision-making.

The fund will finance startups at all stages of development—from pre-seed to late-stage.

The fund’s structure will be led by Anthony Albanese, a partner and former chief compliance officer at the New York Stock Exchange.

The fund’s team of experts in marketing, public relations, policy and regulation will work to popularize cryptocurrencies. At a16z they believe digital assets are still in an early stage of development.

Earlier in May, ForkLog reported that the new crypto fund plans to charge a 2.5% management fee for the first decade after launch. It also contemplates a 25% incentive fee on gains and a 30% fee when the value of its assets under management doubles. In case of losses, the latter fee is not charged.

In June A16z led an investment round for $11 million for the lending protocol Goldfinch.

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