Venture Capital company Andreessen Horowitz (a16z) has closed its latest crypto fund of $4.5 billion. This is the fourth crypto fund by the company for crypto and blockchain startups. The VC will dedicate $1.5 billion of the mentioned amount to seed investments, and $3 billion to venture investments.
Related: Andreessen Horowitz Opens a New Crypto Research Hub
Andreessen Horowitz have been investing in crypto since 2013. With the latest fund, its total crypto/web3 funds reached $7.6 billion. a16z revealed the news via a blog post that says the company believes blockchains will power the next major computing cycle, which they call crypto or web3.
The release mentions that now programmable blockchains are sufficiently advanced, and the number of users of decentralized apps have reached tens of millions. What is more important for the team is the entering of world-class talent the sphere, and their will to build a better internet.