One of the most prolific VC firms in the Silicon Valley and its owner, Andreessen Horowitz, has recently launched a $300 million crypto fund – and hired their first ever female general partner, Katie Haun along with it. Haun is a former federal prosecutor who spearheaded the burst of the well-known darknet marketplace Silk Road along with the exchange BTC-e.
The announcement made news lately especially after Bitcoin hit one of its lowest price points after the rally which let it touch $20k in December 2017.
Horowitz, on the other hand, has always been involved with cryptocurrencies. He was once a board member at Earn.com (which is now part of Coinbase) and has been making strategic investments in many crypto Comanches such as Coinbase. He is also known for participating in the Basis seed round and Harbor’s $28 million round attracting many Silicon Valley investors.
The venture capital firm by Horowitz is well-known for its “Software is eating the world” thesis. Its new software primitive that “blockchain computers” make use of will leverage game theory and math to give people integrity in a distributed ledger.
According to a statement by the firm:
“In an era in which the internet is increasingly controlled by a handful of large tech incumbents, it’s more important than ever to create the right economic conditions for developers, creators, and entrepreneurs.”
The $300 million fund launched by Horowitz sets its sights on the long-term and is focusing on investing no matter what state the market is in.
“We have an “all weather” fund. We plan to invest consistently over time, regardless of market conditions. If there is another “crypto winter,” we’ll keep investing aggressively.”
The a16z crypto fund will also invest in all sorts of teams, whether its seed stage or much later and will also invest in “non-speculative” use cases.
“We want services powered by crypto protocols to be used by hundreds of millions and eventually billions of people. Crypto tokens are the native asset class of digital networks, but their value is driven by the underlying, practical uses cases.”
Many experts have agreed that the timing for a fund like this could not be better – especially after Bitcoin’s recent lows.
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