A16z is raising as much as $1 billion for a new crypto fund

Venture capital firm Andreessen Horowitz (a16z) is setting up a new fund to invest as much as $1 billion in crypto and crypto start-ups, according to a report from the Financial Times. 

A16z is looking to raise between $800 million and $1 billion for the fund, which will be its third and largest crypto-focused fund. Recently, the firm has invested in zero-knowledge private applications platform Aleo


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The firm found early success by investing in Coinbase and Ripple through its traditional funds. It later created a dedicated crypto fund in 2018, and by 2019 it had amassed a portfolio of crypto firms that would become some of the highest-valued companies in the space, in addition to other early bets on tech firms like Skype, Facebook, Twitter and Airbnb. A16z established a second crypto fund last year

If a16z raises the $1 billion, this would make it one of the highest-funded investment pools dedicated to crypto. Paradigm previously raised $1 billion for crypto investments. 

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Aislinn Keely is a reporter on The Block's policy team holding down the legal beat. She covers court decisions, bankruptcies, regulatory actions and other key moments in the legal sphere, putting them in context for the wider crypto industry. Before The Block, she lent her voice to the NPR affiliate WFUV and helmed Fordham University's student newspaper. Send tips or thoughts on all things policy and legal to [email protected] or follow her on Twitter for updates @AislinnKeely.