a16z, the leading VC when it comes to investments in Web3, has announced the launch of the 4th crypto fund since 2013, Crypto Fund 4, set to total $4.5 billion.
The fund will dedicate:
- Approximately $1.5B to seed investments
- $3B to other stages of venture investments
bringing a16z’s total investments in crypto and Web3 since 2013 to over $7.6B.
Seed funding is the first official equity funding stage. It typically represents the first official money that a business venture or enterprise raises.
The fund follows up on crypto fund 3, and more than doubles its $2.2 billion value as a16z continues to make the biggest bets in crypto and Web3 startups.
In January 2022, a16z made its first investment in an African firm when it led a $20 million round in Carry1st, a games publisher based in South Africa.
According to Chris Dixon, a partner at a16z, we are now entering the golden era of Web3:
“Programmable blockchains are sufficiently advanced, and a diverse range of apps have reached tens of millions of users. More importantly, a massive wave of world-class talent has entered Web3 over the last year. They are brilliant and passionate and want to build a better internet.”
– Senior Partner, a16z
The fund will target a host of sections across Web3, including:
- Web3 games
- Decentralized social media
- NFT communities
- Creator monetization
According to Chris, a16z is excited about developments in:
- Self-sovereign identity
- Layer 1 and layer 2 infrastructure
- DAOs & governance
- Regenerative finance
- New applications of ZK proofs
- Decentralized content &
- Story creation