a16z plans to raise $3.4 billion for new fund
Well-known venture capital firm Andreessen Horowitz (a16z) plans to raise approximately $3.4 billion for its next round of "core early and seed-stage funds," Axios reported, citing people familiar with the matter.
In addition, sources also revealed that a16z will require its limited partners to invest through a newly established main investment platform, which will allocate funds into multiple sub-funds (including the company’s venture capital investment in specific areas). fund).
Fundraising for the new fund will begin at the end of the year and is targeted to be completed in the first half of 2024. In addition, Axios also stated in the report that it plans to raise new growth company, cryptocurrency and biotechnology investment funds in 2025.
Venture capital activity slows
According to previous reports by Zombit, venture capital activities in the cryptocurrency industry have slowed down significantly during the bear market. According to a report released by blockchain analysis company Messari on October 5, in the third quarter of 2023, a total of new cryptocurrency startups $2.1 billion in funding was raised across 297 rounds, down 36% from the previous quarter and down nearly 70% from Q3 2022.
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