Andreessen Horowitz may increase the volume of its new crypto fund to $2 billion

Venture capital investment company Andreessen Horowitz intends to raise $2 billion for its third cryptocurrency fund, according to the author of the blog on investment topics Eric Newcomer, citing sources. Earlier, the media reported information about twice the amount.

"The new funding will enhance the status of the foundation's two chief executives, Chris Dixon and Katie Hawn. I expect the duo to have more leeway to operate independently of the rest of the venture firm, which is still tightly controlled by co-founders Mark Andreessen and Ben Horowitz, " Newcomer writes.

According to the author, for most of the first decade of the fund's existence, investors will be charged a 2.5% management fee, which corresponds to $50 million per year from a $2 billion fund. Andreessen Horowitz will also receive a 25% increase in the value of the investment until the size of the fund doubles, and 30% after that. If the fund turns out to be unprofitable, the company is not entitled to such remuneration.

Newcomer, citing a source, states that shortly after Coinbase entered the stock market, Andreessen Horowitz got rid of some of its shares, and also managed to sell some ether at a price of about $3,800.

Andreessen Horowitz has been actively involved in the crypto space for several years and has recently become increasingly focused on non-fungible Tokens (NFT) and scaling solutions. So, on May 5, it supported the RTFKT NFT platform, and in mid – March-the OpenSea NFT marketplace. The firm is also an investor in Dapper Labs, which is behind projects such as Flow, NBA Topshot, and CryptoKitties.