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Venture capital Andreessen Horowitz, known for its investments on Twitter, Facebook and GitHub, announced on June 24 (local time) that it would establish a $2.2 billion fund focused on crypto assets.
Andersen Horowitz is a venture capital firm founded in 2009 by Mark Andersen, developer of Netscape Navigator and NCSA Mosaic, along with former Netscape Vice President Ben Horowitz. It is a venture capital firm with great influence in Silicon Valley by investing in technology companies such as Facebook, Lyft, Pinterest, and Airbnb.
Andersen Horowitz announced the establishment of a new $2.2 billion fund focused on investments in crypto-asset-related companies. Andersen Horowitz crypto-asset team revealed in a blog post that they believe that the next wave of computing innovation will be driven by crypto assets.
This isn’t the first time Andersen Horowitz has set up a fund specializing in crypto assets. In 2018, we are creating a fund specializing in crypto assets or blockchain. In addition, in 2013, he invested in Coinbase, a cryptocurrency exchange, and invested in OpenSea, a blockchain-managed non-fungible token NFT trading platform, by investing in digital data ownership.
This is Andersen Horowitz’s third crypto asset-focused fund establishment, but this is the largest in scale. The Crypto Assets team said in their blog that the size of the fund is a measure of the size of the opportunity that lies ahead, and that crypto assets are poised to change not only the future but also every aspect of life, just like the early Internet.
The Andersen Horowitz crypto asset team is led by Chris Dixon, who was at two startups before joining Andersen Horowitz, and Katie Horn, a former Justice Department member who participated in the launch of the Judicial Committee on Crypto Assets. Horn was also involved in a lawsuit against the Dark Web site Silk Road, which was used to conduct dark transactions using Bitcoin during his time as a prosecutor.
The new fund supports companies and projects doing business in the complex field of crypto assets, not only in investment, but also in governance participation and mechanism design. Therefore, we have members with expertise in cryptographic assets, such as Bill Hillman, who served as the head of corporate finance at the US Securities and Exchange Commission, and Alex Price, a computer scientist and investor in crypto asset-related technology ventures.
In addition, Tomica Tillman, who served as the speaker for Hillary Clinton, will be appointed Global Policy Officer, Brent McIntosh, former U.S. Under Secretary of Finance for International Affairs, as an advisory partner, and Rachel Horowitz, former Vice President of Communications at Coinbase, as an operating partner for marketing communications.
Crypto assets fluctuate heavily in price, and in addition to stricter national regulations, major fraud is also occurring. However, Andersen Horowitz was optimistic about the potential of crypto assets, saying that while crypto asset history shows that asset values are likely to fluctuate, innovation continues to rise. Related information can be found here.
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