Earlier this year, reports began to circulate that Andreessen Horowitz was creating a record-breaking $4.5 billion crypto investment fund.
VC heavyweight Andreessen Horowitz is leading the charge again in the cryptocurrency market. On Wednesday, the world’s largest investment business announced that it will be launching a $4.5 billion crypto-focused investment fund. Although the corporation had not acknowledged the news at the time, speculations circulated that it 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.
According to Arianna Simpson of Andreessen Horowitz, “Bear markets are frequently when the finest possibilities arise since individuals can concentrate on creating technology rather than being sidetracked by short-term price movement.” CNBC quotes Simpson as saying.
Solana, Uniswap, and Axie Infinity are just a few of the projects that the Silicon Valley corporation has invested in over the last several years, cementing its position at the vanguard of the crypto sector.
This isn’t the first time Andreessen Horowitz has created a crypto fund in the midst of a bear market. It was announced only weeks after the crypto market had experienced its greatest decline in over a year with a $2.2 billion Crypto Fund III.
Andreessen Horowitz has raised a total of $7.6 billion for crypto and blockchain investments as a result of the new fund. The corporation intends to invest the money in both cryptocurrency and stock in the company directly.
Despite the recent dip in the crypto sector’s market value, investment in crypto projects seems to be continuing at a steady pace. While Circle raised $400 million in April, the Layer 1 blockchain NEAR raised $350 million. Popular Metaverse game The Sandbox reportedly seeks $400 million in fresh funding at a $4 billion value. To take advantage of the present weak market, Andreessen Horowitz looks to be doing the same.
Also Read: MasterCard’s CEO Remains Optimistic About the Mass Adoption of Crypto