a16z raises $ 515M for its second crypto-fund

Andreessen Horowitz (a16z) doubles its investments in blockchain technologies and crypto with the launch of a new $ 515 million fund.

While the powerful American venture capital firm planned to raise $ 450 million for her second crypto-fund, she finally raised the sum of $ 515 million.

We believe it is important to continue investing in the long-term development of the Internet to meet the needs of the coming decades. That’s why we’re excited to announce a new $ 515 million fund that will be used to invest in crypto networks and businesses, ”the firm said in a press release.

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With this new fund, Andreessen Horowitz intends to invest in crypto-startups specializing in new generation payments, the decentralized finance (DeFi), the monetization or the Web 3.0.

In the same way that it was not obvious in 2007 to foresee how mobile applications would change so many aspects of the way we move, consume, travel, communicate and even date, it is difficult to imagine what will be the best blockchain-based apps and use cases, ”says the company.

In 2018, a16z launched a first $ 300 million cryptocurrency and has supported a myriad of startups such as the custodian Anchorage, the DeFi protocol Compound, blockchain Arweave or the project Libra from the Facebook giant.

Last year, the company announced the school launch aimed at helping start-ups specializing in cryptocurrency.