Andreessan Horowitz veture capital firm to raise fund of 1 billion USD for crypto

Silicon Valley-based venture capital firm Andreessen Horowitz plans to raise a fund of as much as $1 billion to invest in cryptocurrencies and crypto start-ups, after its successful investments in Coinbase. According to a report in the Financial Times, the new fund is aiming to raise between $800m and $1bn from investors. The fund will be one of the largest pools of capital dedicated to crypto.

The fundraising by Andreessen Horowitz will rival capital raised by Paradigm, an investment firm focused on supporting the big crypto companies, protocols and currencies of tomorrow, the report said.