Andreessen Horowitz is launching the largest crypto fund of all time with $4.5 billion

Andreessen Horowitz is launching the largest crypto fund of all time with $4.5 billion

Venture capital giant Andreessen Horowitz (a16z) has launched the largest crypto venture fund ever: $4.5 billion.

The vehicle, the company's fourth, brings a16z's total crypto and Web3 holdings to $7.6 billion.

The launch makes good on a plan unveiled in January, when the company released a now updated one Investment thesis is based on the “power of software” as “the coding of human thinking and as such has almost unlimited scope for design”.

“We believe we are now entering the golden era of Web3,” general partner Chris Dixon said in a blog post announcing the new fund. “Programmable blockchains have advanced far enough, and a variety of apps have reached tens of millions of users. More importantly, a massive wave of world-class talent has entered [Web3] over the last year.”

Talent floods into the industry during a bull market, Dixon told the audience at the Permissionless conference last week in Palm Beach, adding that a bear market is the best time for builders to focus on what's next.

The fund will invest in Web3 startups that span the gamut from DeFi to gaming, infrastructure, DAOs, NFTs, privacy, decentralized social media “and many other areas.”

The company also plans to expand its internal staff to meet the review needs of additional startup investments.

a16z's crypto portfolio consists of several dozen companies, including big names like Dapper Labs, dYdX, OpenSea, Near, Solana, Phantom and Uniswap. The latest addition is Flowcarbon, which is building an on-chain carbon credit tokenization platform.

“Our frequent conversations with builders have given us the confidence to go big and we are grateful to be your partner,” Dixon wrote of the latest fund.

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The article Andreessen Horowitz launches the largest crypto fund of all time with $4.5 billion is not financial advice.