Leading Silicon Valley venture firm Andreessen Horowitz (a16z) plans to launch its third crypto fund with a capital of between $800 million and $1 billion. This was reported by Financial Times.
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In 2020, a16z raised $515 million for its second fund. In 2018, the venture firm launched its first crypto fund with a capital of $300 million.
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Andreessen Horowitz is an early investor in Coinbase. On April 14, the day direct listing of the bitcoin exchange’s stock, the venture firm sold securities worth $449.2 million. The total value of a16z’s stake in Coinbase is estimated at $11 billion.
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Earlier on April 20, Andreessen Horowitz led a funding round for Aleo, a platform for creating privacy-enhanced decentralized applications, of $28 million.
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On March 18, a16z backed the NFT marketplace OpenSea in a Series A investment round of $23 million.
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