Andreessen Horowitz (a16z), a venture capital firm that has invested extensively in the crypto industry, is looking to raise $4.5 billion for new funds, the Financial Times reported.
- The firm told investors it is looking for $3.5 billion for a crypto venture fund, the FT said, citing people briefed on the discussions. That will surpass the $2.2 billion it raised in June for its Crypto Fund III, at the time the industry’s largest.
- It has targeted another $1 billion for a fund that will invest in seed funding for digital asset startups, according to the FT. The discussions took place last week, the U.K. newspaper said.
- The new crypto fund would be the industry’s largest, overtaking the $2.5 billion raised by Paradigm in November. It comes just weeks after Katie Haun, an a16z partner, said she was leaving the company to start her own venture capital firm.