- Andreessen Horowitz has now raised a total of $7.6 billion for crypto and blockchain.
- The firm is planning on continuing its crypto investments despite market condition.
Rumors that Andreessen Horowitz intends to shatter the benchmark for a record-breaking crypto fundraising earlier this year have been verified by the company. Andreessen Horowitz, a capital firm, is once again leading the charge in the cryptocurrency market.
The investing giant will launch a crypto-focused investment fund for an additional $4.5 billion, revealed on Wednesday. Even though the news was not verified, there were speculations in January that the company was seeking $4.5 billion for a new crypto fund. As a result of this record-breaking fund, the business has made its fourth push into the crypto and blockchain industry.
Axie Infinity, Uniswap, and Solana are just some of the initiatives the Silicon Valley Corporation has invested heavily in over the last several years to solidify its position as a leader in the crypto industry.
No Signs of Slowing Down
Cryptocurrency funds aren’t new to Andreessen Horowitz, and this isn’t their first attempt. Andreessen Horowitz has now raised a total of $7.6 billion for crypto and blockchain investments with the addition of the new fund. The corporation intends to invest the money in both cryptocurrency and stock in the company directly.
Investment in crypto projects isn’t slowing down, even if the crypto sector’s market value just fell to its lowest level in more than a year. The Layer 1 blockchain NEAR raised $350 million during April, while the USDC issuer Circle collected $400 million. At its $4 billion value, The Sandbox reportedly seeks an extra $400 million in funding. Even though the crypto market is now in a downturn, Andreessen Horowitz is planning on continuing its crypto investments.