May 16, 2021

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Crypto VC Fund: Andreessen Horowitz plans a $ 1 billion VC fund: Report

Venture capital giant Andreasen Horowitz is looking to raise up to $ 1 billion to invest in cryptocurrencies and cryptocurrency startups, the Financial Times reported on Friday.

The report said, citing informed sources, that the new fund aims to raise between $ 800 million and $ 1 billion from investors. Andresen Horowitz did not immediately respond to a Reuters request for comment.

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Development news comes as the value of cryptocurrencies soar this year, with a host of high-profile companies including Tesla diving into space.