Andreessen Horowitz aims to raise $4.5 billion to invest in crypto

A16z, a VC company with investments in Protocol Labs, Polychain Capital and Opensea among others, is now planning to raise $4.5 billion for its latest fund, which is focused solely on cryptocurrencies, according to a report by U.K newspaper Financial Times.

Last week, Andreessen Horowitz’ venture capital firm reportedly said it would raise $3.5 billion for its VC fund, as well as another $1 billion for Web3 seed investments, with the plans to be announced in March. The firm is ready to eclipse the $2.2 billion it raised in June 2021, which was the crypto industry’s largest at the time.

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