Venture capital giant Andreessen Horowitz is looking to raise a fund of as much as $1 billion to invest in cryptocurrencies and crypto budding ventures for better growth.
This new fund is aiming to raise between $800 million and $1 billion from investors, stated by the people familiar with the matter.
Whereas, while asking about the fund and more details the company said citing people familiar with the matter didn’t respond immediately to the media. The update of the development comes as cryptocurrencies surge in value this year. Moreover, with a clutch of top-tier firms involving Tesla diving into space.
The facts say it would make it one of the biggest pools of capital dedicated to crypto and potentially twice the size of its predecessor. Andreessen’s fundraising push comes as other cryptocurrency investors are raising large war chests. It is also pricked on by a surging market in bitcoin, ethereum, and other digital assets.
One of the earliest cryptocurrency investment companies Pantera Capital is aiming to raise $600 million for a new blockchain fund that will combine investments in tradable tokens and more.
It has raised a fund of $175 million in 2018 and was worth 3.8 times that amount as of January 2021 as per the sources.