According to Blockworks, Andreessen Horowitz (a16z) is reportedly planning to raise $3.4 billion for its next early and seed-stage venture funds. The largest venture capital firm by assets under management is expected to launch its fundraising efforts by the end of this year, with the aim of closing them during the first half of 2024. A16z is primarily known for focusing on technology, the burgeoning AI sector, and social media platforms for investment. However, the firm's portfolio also includes investments in crypto projects and businesses.
Some of a16z's notable crypto investments include Coinbase, Aptos, Avalanche, Dapper Labs, Layer Zero, OpenSea, and Worldcoin. Crypto investing will continue to be a priority, with new investing vehicles expected to arrive in 2025, according to Axios. Among the firm's recent crypto investments was smlXL, which raised $13.4 million in late October. In September 2022, a16z Crypto led a $16.8 million seed round for NFT-focused startup IYK, alongside Collab Currency, Lattice Capital, 1kx, Synergis Capital, and others.
A16z has also shown growing interest in the UK market. The venture firm wrote to the UK government in May in response to a February call for consultation on crypto regulation. A16z urged the country to avoid a 'one-size-fits-all' approach and criticized US regulators for relying on the 'difficult to enforce' Howey test for its securities regulation framework.
