A16z creates a new $ 1 billion crypto fund

Venture capital firm #Andreessen #Horowitz ( #a16z) is creating a third #crypto venture fund, according to the Financial Times.

Speaking to FT, sources said a16z wanted to raise between $ 800 million and $ 1 billion for the new fund. If this figure is reached, the company will have doubled last year's $ 515 million fund.

A16z has investments in #Anchorage, Ava Labs, #Celo, #Chia, #Coinbase, #Compound, #Dfinity, #Libra, #Dydx, #Filecoin, #Handshake, #Foundation, #Maker, #Near, Oasis Labs, #Ripple, #Uniswap and many other organizations from the crypto money industry. Previously, he had invested in technology companies such as #Skype, #Facebook, #Twitter and #Airbnb.

With its early investment in Coinbase, the company made huge returns by selling $ 449 million of shares after the exchange went public on #Nasdaq.