Oliver Knight
Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.
Andreessen Horowitz said Wednesday it formed a new $4.5 billion fund that will invest in cryptocurrency and Web 3 companies.
- The fund is the firm's fourth to target digital assets, with over $7.6 billion being raised in total.
- Of the $4.5 billion, $1.5 billion will go towards seed investments while the rest is being set aside for venture investments.
- "We think we are now entering the golden era of Web 3," the company said in its announcement, adding that it's "excited" about developments in blockchain gaming, decentralized finance (DeFi), decentralized social media and non-fungible tokens (NFT).
- Previous funds were raised last June and in April of 2020, both of which came shortly after crypto market downturns.
See also: Andreessen Horowitz Rakes In $2.2B for Third Crypto Venture Fund
Update (May 25, 12:50 UTC): Adds details on the firm's interest in specific sectors and market information.