Andreessen Horowitz just launched a new $ 2.2 billion crypto-focused mutual fund to support blockchain projects in the areas of scaling and marketing.

Crypto Fund III is Andreessen Horowitz’s (also known as a16z) $ 2.2 billion venture capital fund that was officially announced on June 24th. The co-founder of the Crypto Fund II also has 2 other partners, Chris Dixon and Katie Haun. This fund will be used to invest in the cryptocurrency network and projects that will contribute to the new decentralized economy.

Considered the largest crypto mutual fund of all time, this shows that venture capital funds have a lot of faith in the power of cryptocurrencies.

“This fund enables us to find the next generation of visionary crypto founders and invest in the most exciting sectors of the crypto market. We invest in all phases, from early projects to the later phases of full network development. ”- said representative Andreessen Horowitz.

The size of the Crypto Fund III is much larger than the $ 1 billion rumored figure earlier this year. It also builds on Crypto Fund II, an investment initiative first launched by Andreessen Horowitz in August 2020.

Andreessen Horowitz is a professional investment fund in the international financial industry. This is also the unit that has directed a number of huge investment transactions, including the recent $ 314 million funding round from Solana Labs. The fund is also behind the $ 23 million raise for the NFT OpenSea marketplace platform. In addition, there was a $ 40 million financing round for Talos and a $ 28 million investment round for Aleo. This is also the unit behind Dfinity’s $ 105 million in 2018.

The fund’s blockchain portfolio includes some of the biggest names in the current cryptocurrency industry. These can be named as Coinbase, Diem – a project supported by Facebook, Compound, Maker and a few others.

Andreessen Horowitz not only announced the launch of the mutual fund, but also hired five CEOs. These include Bill Hinman, former director of the US Securities and Exchange Commission; Rachel Horowitz, former communications director at Twitter, Google, and Facebook; and Tomicah Tillemann, director of new global politics and former senior advisor to Joe Biden and Hillary Clinton.

Alex Price, founder of a quantitative research firm that was later acquired by Genesis Capital of the Digital Currency Group, also joined the group. There is also Brent McIntosh, who served as US Under-Secretary of State for the Treasury Department for International Affairs.

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