Silicon Valley, California-based venture capital firm Andreessen Horowitz (a16z) is looking to raise $4.5 billion in new funds, reports Yahoo Finance!. The company told investors it was looking for $3.5 billion for a crypto venture fund.
Andreessen plans to finalize the latest funds in March, the company declined to comment. If everything goes according to plan, the size of the company will surpass any other funds effectively raised for early bets on crypto startups.
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The fund will surpass the $2.2 billion it raised last June for its Crypto Fund III. It was the largest in the industry at the time.
Andreessen Horowitz targets $1 billion fund
The Yahoo report adds that the company aims to fund another $1 billion to invest in seed funding for digital asset startups.
The report added that the above discussions were held last week.
The new crypto budget will be the largest in the industry, surpassing the $2.5 billion raised by Paradigm in November. It comes weeks after Katie Haun, a partner at a16z, said she will leave the company to start his own venture capital firm.
Andreessen Horowitz advocates for entrepreneurs who boldly build the future through technology. The company aims to connect entrepreneurs, investors, executives, engineers, academics, industry experts and others in the tech ecosystem, according to the official website.
The company plans to invest in Topography Health
Earlier in the day, the company posted on its blog that it plans to invest in Topography health. The blog post reads: “We are excited to invest in Topography Health. CEO Alexander Saint-Amand and team are building a curated marketplace to improve throughput and diversity of clinical trials. “Read the full blog post here.
Andreessen Horowitz funds both early-stage startups and established growth businesses. Its assets span the mobile, crypto, gaming, social, e-commerce, education and corporate IT industries.