- A16z wants to raise a $1 billion funding for cryptocurrency investment
- It is likely to pull in between $800 million-$1 billion for the new fund
- As crypto prices trade at all-time highs, A16z wants to corral investors interested in finding the next Coinbase
A16z, venture capital firm Andreessen Horowitz, is keen for a third crypto venture fund, according to a report in Financial Times. It is likely to pull in between $800 million-$1 billion for the new fund.
This could ultimately double the $515 million fund A16z last raised for crypto investments. This news, as per Coindesk, comes in the wake of the Coinbase public listing. A16z had been rewarded handsomely for its early support of the crypto exchange.
The report says the firm crashed out $449.2 million in COIN stock on behalf of its investors on April 14, the day the stock made its debut on Nasdaq. As crypto prices trade at all-time highs, A16z wants to corral investors interested in finding the next Coinbase.
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