Andressen Horowitz has created a $300 million crypto fund and plans to hold onto investments with it for at least 10 years.
Andreessen Horowitz, a well-known venture capital firm, has launched a $300 million-dollar crypto fund. The firm calls the fund an “all-weather” fund, meaning that they plan to invest consistently regardless of market conditions.
“If there is another “crypto winter,” we’ll keep investing aggressively.” said the firm.
The fund is called the a16z crypto fund, and it plans to invest in all sorts of teams at all stages of development. The firm wants to invest in “non speculative” use cases, saying,
“We want services powered by crypto protocols to be used by hundreds of millions and eventually billions of people. Crypto tokens are the native asset class of digital networks, but their value is driven by the underlying, practical uses cases.”
It is great to see that regardless of current market conditions, investment firms are still looking to invest in projects. This shows that lots of smart money is still seeing potential in this market.