Andreessen Horowitz (a16z), a Silicon Valley-based venture capital firm co-founded by Marc Andreessen and Ben Horowitz, has closed a mega $7.2 billion in new funds.
The VC giant, which is one of the largest backers of crypto projects, beat its targeted $6.9 billion. Axios highlighted the milestone in a report, noting that this reflects a16z’s stature as an industry behemoth.
According to the platform, this raise is despite the downturn in the fundraising market.
a16z announced the new funds today, April 16.
a16z’s multiple venture strategies includes crypto
According to a16z co-founder and general partner Ben Horowitz, this is a “major milestone,” for the VC firm.
The $7.2 billion raised surpassed the targeted amount by nearly 4% and goes into multiple specific funds. These are American Dynamism at $600 million, apps at $1 billion, gaming at $600 million, infrastructure at $1.25 billion and growth stage investing at $3.75 billion.
“To best serve the market, we created dedicated venture funds, each with its own team of experts and capabilities, specifically focused on each segment,” Horowitz noted.
Martin Casado, a general partner at a16z, shared part of the story on X.
We’ve raised a $1.25B infrastructure fund! We love all infra, compute, network, storage, databases, data science, gen AI, dev tools … from silicon to UIs.
Infra is the true root of value in tech. And we’re deepening our commitment to it.https://t.co/RjqVmSkXSV
— martin_casado (@martin_casado) April 16, 2024
Other than the American Dynamism, Apps (which covers consumer, enterprise and fintech), games, growth and infrastructure, a16z’s other sub-market funds are Bio+Health and crypto.
a16z crypto investments
Uniswap, Opensea, Yuga Labs, Avalanche and Worldcoin are some of the crypto and blockchain platforms a16z crypto has invested in. Recently, the company has invested in Pimlico, EigenLayer, Dynamic Labs and Espresso.
In late March, a16z announced its CSX Spring 2024 program would accommodate 25 projects. The 10-week program is being held in London.
Earlier this year, a16z released its “Big Ideas in 2024” report, highlighting key areas across crypto that its experts believe will be big trends.
It includes modular tech stacks, AI+blockchain, play-and-earn (from play-to-earn), NFTs and Succinct Non-interactive ARguments of Knowledge (SNARKs).
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