US-based VC firm, A16Z, plans to raise USD 4.5 Billion for Crypto Funding
The US-based Venture Capital (VC) company, Andreessen Horowitz (A16Z), has planned on fundraising amounting to USD 4.5 Billion for investing in new cryptocurrencies. The firm told investors in the previous week that to venture into the latest cryptocurrency idea, a sum of around USD 3.5 Billion is required to carry it forward. It also has plans to set foot into the domain of Seed Funding for start-ups that deal with virtual assets.
In most cases, Venture Capital companies who try to raise money rapidly and in huge amounts usually get rejected by investors since making modest investments that investors mostly prefer centre around the quality of execution. It should be taken into account that A16Z and many technology-based investors have lately been facing some difficulties in obtaining the necessary funds from major establishments for their crypto-based investments.
If A16Z becomes successful in this fundraising plan, it would considerably outpace any previous fundraiser for start-ups based on crypto. The firm’s plans demonstrate how intensely well-known Venture Capital companies are investing in the development of cryptocurrency, stepping into new ventures to bring about evolution and replace the old conventional finance system.
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Information about the company:
Andreessen Horowitz, also referred to as A16Z, is a Venture Capital company based in the United States and headquartered in California. This Silicon Valley-based VC company is known to invest in start-ups and well-established enterprises. The company usually invests in firms belonging to certain sectors, namely in E-commerce, crypto, education, video game development, and Information Technology (IT), i.e., software development and cloud technology. Andreessen Horowitz also has a database containing all the programmers, designers, and managers to help fill out job roles in their start-ups.
Andreessen Horowitz has already invested in at least 50 crypto start-ups, with significant deals disclosed weekly, making it the world’s largest crypto investor.