Crypto Fund III

History

2021: Launch of a $2.2 billion fund for investments in crypto companies

At the end of June 2021, Andreessen Horowitz launched its third fund worth $2.2 billion for investments in cryptographic companies - Crypto Fund III. This is the largest vertical fund of the company in the history of its existence, the publication TechCrunch notes.

The first crypto fund Andreessen Horowitz in 2018 raised $300 million, and its second fund, closed in April 2020, totaled $515 million. The new multibillion-dollar fund not only shows that institutional sponsors are getting used to cryptocurrencies, but also demonstrate the rapid growth of assets of Andreessen Horowitz himself. After the opening of the new fund, the company began to manage assets worth about $18.8 billion and has already invested in Coinbase, Diem (supported by Facebook), Compound, Maker and other crypto projects.

Andreessen Horowitz launches $2.2 billion fund for investments in crypto companies

The company is confident that the new technology will restore confidence and create a new type of management based on collective decision making. The fund will finance startups at all stages of development, and funds will be distributed among promising projects that contribute to the new decentralized economy. A team of fund experts in the field of marketing, public relations, politics, regulation will contribute to the popularization of cryptocurrencies. The company believes that digital assets are still at an early stage of development, and intend to actively advance them.

The new fund will be led by Andreessen Horowitz partners Chris Dixon and Katie Haun, and their team will be joined by new employees, including a former director of the U.S. Securities and Exchange Commission (SEC) Bill Hinman, former head of communications at Twitter, Google and Facebook, Rachel Horowitz (Rachael Horwitz), as well as former adviser to Joe Biden and Hillary Clinton Tomica Tillemann (Tomicah Tillemann).^[1]

Notes