One of the most popular venture capital funds announces the creation of a cryptocurrency fund
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Answer One of the most popular venture capital funds announces the creation of a cryptocurrency fund
Silicon Valley investment fund Andreessen Horowitz announced the launch of a new $300 million investment fund focused on blockchain and cryptocurrency projects.
The investment fund published an article on Monday explaining the intention to name the fund “a16z,” and it will be on the team, the former federal prosecutor and attorney Catherine Hawn as one of the leading figures and representative of the fund.
The news may not come as a surprise to some for the entry of many investment companies in the field of blockchain and digital currencies, given the flow of millions of dollars on infrastructure projects and protocols to develop technology. Note that the investment fund (Andreessen Horowitz) has previously invested in a number of distinguished and most famous start-up companies Coinbase . platform.Read:The digital currency ADA rises by more than 22% after announcing its inclusion on the “Coinbase Pro” trading platform
The general partner of the fund, Chris Dixon, indicated that this fund will take a long term in its investments. He added, “We have invested in cryptocurrency and blockchain for more than 5 years, we have never sold any of these investments and we do not plan to do so anytime soon as we plan to hold them for more than 10 years.”Read:The number of Ethereum deposited in Ethereum 2.0 stakes hits a new record
The fund hinted in its letter that the (a16z) fund will focus its investments on projects related to infrastructure development and protocols, and not for speculation. He added that investment will continue regardless of market conditions, and that any decline or stagnation experienced by the market will motivate them to invest strongly.
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