After burning through $2.2 billion in a flurry of crypto and web3 projects by December 2021, the geeks at a16z are hell bent on raising even more money for crypto.
The web3-obsessed venture firm is looking to raise $4.5 billion from investors with $1 billion alone being dedicated to seed phase investments targetting a roll out by March 2022.
In recent times, the firm has come under criticism with leading tech players, especially Twitter’s, Jack Dorsey, accusing it of capturing what is supposed to be a decentralized spin off of the internet.
However, that has not put off the VC firm led by Marc Andreessen and Ben Horrowitz as they are now set to almost doube their output over the the last six months.
Some of the crypto/web 3 projects they have invested in during that period include:
The VC is also diversifying and adding onto its web3 spotting pool. A new general partner, Sriram Krishnan, has laready joined the fund announcing that he would only be investing in only web 3 and crypto henceforth. The new partner has worked in products for organizations like Facebook and Twitter and represents more talent that has acquired an unshakeable belief in the value of web3.
On January 2022, a16z announced a new and separate $9 billion raise for its venture, growth, and bio finds – some of which may as well go into crypto projects.
In terms of its tickets, the firm wants to be writing checks as small as $25,000 and up to hundreds of millions of dollars.