The venture firm Andreessen Horowitz (a16z) raised $4.5 billion into a new fund focused on Web3 and cryptocurrency startups.
$1.5 billion will go to pre-seed investments, with the remaining amount earmarked for rounds at later stages.
The fund focuses on projects in the following areas:
- games;
- DeFi;
- NFT;
- social platforms;
- sovereign identity;
- infrastructure for Layer 1 and Layer 2 networks;
- privacy;
- content monetization;
- regenerative finance;
- zero-knowledge proofs;
- decentralized content.
The vehicle is the fourth crypto fund from a16z. In total, the firm has raised more than $7.6 billion for these purposes — $2.2 billion in the third fund and $965 million in the first two.
“We are entering the golden age of Web 3.0. … a wide range of decentralized apps (dapps) has reached tens of millions of users. A massive wave of world-class talent has entered the industry with the aim of improving the Internet,” the press release said.
In April, a16z opened a research division for cryptocurrencies and other Web 3.0–related technologies. Later, company experts said the industry was in the middle of the fourth “price–innovation” cycle.
Earlier, a16z launched a $600 million fund focused on “gaming infrastructure and metaverse technologies.”
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