Venture giant Andreessen Horowitz drops ‘crypto’ from name of blockchain fund, rebrands as ‘a16z Frontier’
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In 2018, Andreessen Horowitz made a splash in the venture capital world by launching a spinoff dedicated to digital assets called a16z Crypto.
Key facts
Its latest $2.2 billion fund brought the total raised across five funds to $9.8 billion
In May, Haun Ventures founder Katie Haun announced $1 billion in new funds
The firm went on to raise increasingly large crypto funds, including a $4.5 billion vehicle in 2022
In June, a16z Crypto led a $33 million seed round for Ornn, a company developing financial products for the AI computing market
Summary
Managing partner Chris Dixon will lead the fund alongside Marc Andreessen, Ben Horowitz, and general partners Eddy Lazzarin and Guy Wuollet. As more businesses use blockchain technology behind the scenes, the distinction between crypto companies and other businesses is becoming less clear, Dixon wrote in an X article. A16z Crypto general partner Ali Yahya has told some investors he plans to depart to launch a startup, . The firm had begun investing beyond crypto before Thursday’s announcement.