Andreessen Horowitz · Wall Street · Decrypt
a16z Drops Crypto From Its Name, Widens Bets to AI and Frontier Tech
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Andreessen Horowitz, the venture capital firm better known as a16z, is renaming its crypto fund “a16z Frontier” and widening its mandate to AI and other emerging technologies, according to an email shared with its newsletter subscribers on Thursday.
Key facts
- In January, a16z said it had raised more than $15 billion across its funds, and co-founder Ben Horowitz wrote in a firm post that the mission “starts with winning the key architectures of the future—AI and crypto
- Dixon made a similar argument in 2022, when crypto’s total market value had fallen about two-thirds from its 2021 peak
- Dixon will lead the new fund alongside a16z founders Marc Andreessen and Ben Horowitz and general partners Eddy Lazzarin and Guy Wuollet
- When I joined a16z in 2013, I made these kinds of long-horizon investments a focus,” Dixon wrote
Summary
Andreessen Horowitz is renaming a16z Crypto to a16z Frontier, widening the fund's scope to AI and other long-horizon technologies while keeping crypto investing and regulatory advocacy. Chris Dixon argues blockchains have receded into the background of products from Wall Street and fintech firms, so companies should be defined by what they do, not the technology they use. Dixon will lead the fund with Marc Andreessen, Ben Horowitz, Eddy Lazzarin and Guy Wuollet. A16z is among the biggest backers of the crypto industry, and when a firm that size drops “crypto” from its name, it shows where it may expect the next wave of cash to go.