The crypto market isn’t in its best shape, given the turmoil it has been going through for the last few weeks. However, where others see chaos, Andreessen Horowitz (a16z) sees an opportunity. The company released an announcement stating that they’re launching a new $4.5 billion Web3 fund.
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Per the official announcement; of the crypto fund totaling $4.5B, $1.5B will be dedicated to seed investments and $3B to venture investments. The new Web3 fund nearly doubles the size of the last one, bringing the company’s total crypto/web3 funds raised to over $7.6B.
Andreessen Horowitz has been investing in crypto since 2013, and despite the chaotic status of the market, they continue onward. In fact, this is the fourth fund they launched in this specific market, and it’s also the largest Web3 has ever seen so far.
The giant investor assures people that they’ll use these funds to invest in promising web3 startups at every stage.
Also known as a16z, the company underwent a transformation period and continues to be a dynamic investor. Not too long ago, Andreessen Horowitz launched a $600 million gaming fund named GAMES FUND ONE to help build the future of the games industry.
