The investment company Andreessen Horowitz, a venture capital giant from Silycon Valley, United States, announced the launch of a new fund focused on cryptocurrencies of USD 2.2 billion.
The information was released on June 24 by the news network CNBC, which explained that the fund plans to invest the money in digital assets and startups from the cryptocurrency and blockchain industry.
According to Katie Haun and Chris Dixon, partners who run Andreessen Horowitz’s cryptocurrency group, the size of this fund is a sign of the great opportunity that is presented to the market .
Ok remember that the company’s first cryptocurrency fund was launched three years ago during the ‘crypto winter’ era that began in 2017 and in which the price of bitcoin (BTC) plummeted by 80% . Regardless, the company has been investing in cryptocurrencies since 2013.
Andreessen Horowitz’s new fund arrives at an equally low time in the price of bitcoin and other crypto assets , but the company behind some of the biggest financial success stories of recent times doesn’t seem to be worried.
Noting the volatility of digital assets, Haun and Dixon said the following:
Prices can fluctuate, but innovation continues to increase throughout each cycle. We believe that the next wave of computing innovation will be driven by cryptocurrencies and we are radically optimistic about the potential of cryptocurrencies.
Katie Haun and Chris Dixon, Directors of the Andreessen Horowitz crypto asset area.
Fund will focus on opportunities at all stages , from early start-ups to fully developed late-stage networks.
Andreessen Horowitz invests in recognized companies
This firm was one of the first investors in the Libra digital currency project, from Facebook, which was later renamed Diem.
The company has a stake in Dapper Labs and has plans to focus on DeFi (Decentralized Finance) in the long term. As such, the company is no stranger to the crypto space, The investment team said it will focus on finding “the next generation of visionary cryptocurrency company founders and investing in the most exciting areas” of this industry.
Andreessen Horowitz also announced a wave of new hires for the fund , including former head of the US Securities and Exchange Commission (SEC) Bill Hinman, who is will join the firm as an advisory partner. Rachael Horowitz, who led communications on Twitter, Google and Facebook, joined as an operating partner.
Last month, this company invested $ 515 million in a new fund of cryptocurrencies and blockchain , as CriptoNoticias reviewed. This was more than the $ 300 million raised for the first cryptocurrency equity investment fund, which was launched in the summer of 2018.
Andreessen Horowitz mentioned that is investigating projects related to payments for next generations , such as, according to what they say, decentralized finance, new monetization models and the Web3, that is, the concept of decentralized internet.
