By Jamie G - Cryptocurrency Specialist - 30-04-2021
Venture Capital firm Andreessen Horowitz is now officially gathering thunder for one more fund, building on its past crypto involvement. Andreessen is hoping to be able to obtain funds while "aiming to raise between $800m and $1bn from investors," the Financial Times reported on Friday. Andreessen Horowitz also goes by the acronym a16z.
The company is involved within the crypto and blockchain industries and has invested in a number of projects. The company’s new fund's capital would be invested in crypto industry ventures and digital assets, per the Financial Times.
Andreessen happens to also be a major investor in Coinbase stock, which went public on Pan American Day. According to the regulatory filings cited, Andreessen Horowitz has reportedly sold roughly $120 million of Coinbase stock, despite holding roughly $11 billion within the asset at the time of its listing.
The entity's pursuit of $450 million to get another crypto market investment fund made headlines in April 2020. the corporate was able to secure $515 million in total.
The cryptocurrency trading space as a full has seen significant capital inflows over the last year, as shown by the industry's $2 trillion asset market cap, which it surpassed in April 2021.