Andreessen Horowitz Launches its First $300 Million Crypto-Fund

Andreessen Horowitz Launches its First $300 Million Crypto-Fund

Andreessen Horowitz, a prime VC firm known for its dedication to cryptos, is going to rely on these assets again. The company is aggressively piling into digital coins, and it has established its first-ever fund for that.

In the meantime, two most prominent cyber coins in the world – BTC and ETH – have been struggling to stay afloat. However, this hasn’t stopped a venture fund from its ambitions.

Our top trading bots

Andreessen Horowitz Doubling Down On Cryptos

According to CNBC, the venture capital firm Andreessen Horowitz has gathered $300 million for its novel fund devoted to cryptocurrency companies. The firm notified about this on June 25, as per the report.

In the span of 2-3 years, the firm intends to pile all these funds into everything related to cryptos – from “green” tokens to such digital giants as Bitcoin and Ethereum. After that, it plans to “hodl” all that for a decade.

Such a long-term interest tin crypto-investment can be explained by the “patient” approach of the firm in the industry, Chris Dixon, the general partner at Andreessen Horowitz. Regarding the issue, he has said this week:

“We’ve experienced ups and downs in the cryptocurrency market, and expect there will be many more. There’s potential in the technology, and some of the downturns can be the best investments.”

Crypto-Winter Will Never Come

Dixon added that the novel fund will use the “all-weather” approach, which means that the firm would invest in its continually, no matter what the market conditions are. He said that even if BTC price halves, Andreessen Horowitz will continue putting money into it.

“There are wild fluctuations in the price, and we see that as an opportunity. We’ve been unphased and investing consistently over time,” Dixon said.

The firm’s partner noted that as in 2009-2010 there was an inflow of devs and businesspeople into the work on smartphone apps was on the verge of popularity, now there is the best time to invest in virtual assets.

In accordance with Andreessen Horowitz claims, the first time it piled into digital assets was five years ago via Coinbase, one of the most popular crypto-venues, headquartered in California. Since that time, the firm claims to have no experience in selling all those investments.

At the same time, for the new fund, the investment requirements are going to be flexible and range across various asset types, geographies as well as stages. Aldo, Dixon said:

“We believe we are still early in the crypto movement.”

First Female General Partner to Lead The Crypto-Fund

Another surprise that Andreessen Horowitz has notified about is that its new effort is going to be led by the firm’s first female general partner. Her name is Katie Haun, who used to be a prosecutor at the US Department of Justice.

Haun has got pretty enough experience in the crypto-industry. For instance, she assisted in the setoff of the US gov’t’s first task force for crypto. She also worked on the first high-profile cyber-money-related case, Silk Road. Moreover, Haun is at the board of Coinbase directors and has taught a first crypto-course at Stanford Law School.

In the photo: Marc Andreessen, co-founder and general partner of Andreessen Horowitz

Financial advisers lead the institutional push toward crypto adoption
In the past, there were plenty of reasons for financial advisers to dismiss Bitcoin (BTC) and other cryptocurrencies as a worthy investment, but all of...
Ethereum price moves toward new highs even as pro traders turn bearish
The price of Ether (ETH) fell by 19.6% on April 18, resulting in the quick liquidation of $1 billion in long futures contracts. Despite the size of this...
Finance officials pour cold water on cryptocurrency amid Coinbase celebrations
Finance officials from both sides of the globe are taking the opportunity to criticize the value and utility of cryptocurrencies as media focus intensifies...
dHEDGE launches tokenized index tracking its top 10-ranked traders
Decentralized fund management platform dHEDGE has launched a tokenized index that tracks its top-ranked traders.An ERC-20 token will also be issued for...
Boson Protocol raises $25.8M via public token sale
Boson Protocol, a project that aims to connect physical commerce and smart contracts, has concluded a $25.8 million public token sale ahead of listings...
3 reasons Enjin Coin price surged by over 30% in a single day
The price of Enjin, the native token of the blockchain gaming and NFT-focused project, has surged by more than 30% in the last 24 hours.There are three...
Enjin secures $18.9M funding for Polkadot-based NFT blockchain
Crypto exchange platform has reportedly led an $18.9 million private funding round for Enjin’s new NFT blockchain platform.Enjin announced the...
Adam Back unveils Blockstream’s new Bitcoin mining security token
Canadian-based Blockchain tech company Blockstream announced the launch of a security token backed by the company's mining production on March 29. It offers...
XRP Army gets 'RelistXRP' trending, demands exchanges comply
Members of the XRP Army — supporters of the XRP token — have started an online movement to pressure crypto exchanges to relist the digital asset amid Ripple...
Startup Wala Facilitates Ethereum Micro-Payments For Africans
In Uganda, South Africa and Zimbabwe locals are benefiting from Wala startup, which facilitates micropayments with no fees. People there easily put an average...
Wozniak Wishes Bitcoin Would Become a Single Global Currency
Some weeks ago Silicon Valley’s businessperson Jack Dorsey expressed a belief that it is not the dollar that would run the world in a few years. Dorsey,...
A Little Boy Wrote A Book About The Bitcoin
Andrew Courey, a high school student in Massachusetts, recently published a 57-page book about bitcoin.Andrew conducted his research in the field of cryptocurrency...
Ethereum Lost 45% Of The Cost
The cost of Ethereum is sharply reduced. For this, there are both technical (to a lesser extent) and fundamental grounds.Ethereum began to fall after Bitcoin,...
Cryptocurrency Lovers Will Spend More Electricity Than All of Argentina
In 2018, the need for electricity for all miners in the world may exceed energy consumption in Argentina.This opinion was expressed by analysts of financial...
ICO-Projects Attracted a Record Amount of Investments in December - $1 billion
ICO-projects attracted a record amount of investments in December - $1 billion While Bitcoin and lots of alt tokens were heading news headlines in December,...