What is the world's No. 1 crypto venture capital a16z all about?

a16z entered the crypto investment field as early as 2013. At that time, the crypto industry had not yet been widely recognized, but a16z led a $25 million Series B financing for Coinbase, followed by seven additional investments. This bet not only allowed a16z to reap huge rewards when Coinbase went public, but it also made it a star in the field of crypto investment.

To better position itself in the crypto field, a16z established a dedicated venture capital fund for crypto in 2018, now managing over $10 billion.

[向右R] Raised $300 million in 2018

[向右R] Raised $515 million in April 2020

[向右R] Raised about $2.2 billion in June 2021, setting a record for crypto fund fundraising at that time

[向右R] Raised $4.5 billion in May 2022, of which $600 million was for Web3 gaming

[向右R] Completed $7.2 billion in fundraising in April 2024, focusing on startups that have moved beyond the early stage and are seeking further expansion and maturity.

a16z crypto has consistently adhered to the so-called “all-weather” investment strategy, meaning they continue to invest regardless of market conditions. Their actions have proven this point. The first two funds of a16z crypto were launched during the crypto bear market from 2018 to 2020, managing over $800 million in total. Even during the crypto winter of 2023, a16z was still quite “aggressive”; according to Rootdata, they made over 30 moves in the past year, 11 of which were leading investments. In contrast, other crypto funds like Paradigm have been relatively conservative.

“Software is eating the world” is the most well-known slogan of a16z, originating from Marc Andreessen's article in The Wall Street Journal in 2011 titled “Why Software Is Eating the World.” This statement solidified a16z's confidence in investing in internet companies. In 2014, facing skepticism about crypto investments, Marc Andreessen wrote an article in The New York Times titled “Why Bitcoin Matters,” comparing Bitcoin to personal computers in 1975 and the internet in 1993, viewing it as an equally important innovative technology. This laid the foundation for a16z's long-term investment in the crypto industry and prompted many traditional venture capitalists to reconsider the crypto space.

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