Technology

Andreessen Horowitz Fund to bet another $4.5 billion on Web3

Nothing will defeat the faith of the American foundation Andreessen Horowitz in cryptocurrencies and blockchain. Not the bursting of the tech stock bubble, not the fall in the price of bitcoin, not the murder of the Terra stablecoin. He just announced the closing of a new $4.5 billion fund dedicated to the sector, a third of which will be devoted to seed operations.

His most recent such fund, Crypto Fund 3, was endowed with $2.2 billion. So Andreessen doubles down. “The size of our new fund is a measure of how excited and confident we are in this industry,” a16z partner Arianna Simpson told TechCrunch. Overall, the fund has raised $7.6 billion across all of its cryptocurrency investment vehicles, which employ 60 people.

“Golden Age of Web3”

Crypto Fund 4 will be led by Chris Dixon, the “web3” gentleman of a16z. Katherine Haun, who was on the manoeuvre with him and sits on the board of directors of OpenSea and Coinbase, among others, left to launch her own crypto investment fund that closed $1.5 billion in funding.

“We believe we are entering the golden age of web3. Programmable blockchains are quite advanced, and a variety of applications has reached tens of millions of users. In recent years, the first order has appeared on the network. They are bright, passionate and want to make the Internet better,” wrote Chris Dixon in message on your website.

Chris Dixon, king of crypto

Andreessen Horowitz has been investing in this area since 2013. In particular, he owns shares in Avalanche, Coinbase, DapperLabs, OpenSea, Sky Mavis, Solana, Uniswap and Yuga Labs. Chris Dixon, who joined a16z in 2012, has earned his VC stripes from his industry stakes. He made a bet on Coinbase back in 2013, which gave him enough capital gains to fund everything else. “I think in 10 years everyone will consider him the greatest investor of his generation,” Ben Horowitz told Forbes magazine.

Such a reputation in the venture capital world has one advantage: it provokes self-fulfilling prophecies. However, the numbers speak for themselves. According to Forbes, the ROI on a16z operations in this sector (realized and unrealized capital gains) exceeded 17 at the end of 2021. Without a doubt, Chris Dixon is the king of cryptocurrency today.

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