Andreessen Horowitz planning to target $3.4 billion for next early-stage funds: report

Silicon Valley venture capital firm Andreessen Horowitz is planning to target about $3.4 billion for its next core early-stage and seed-stage funds, Axios reported, citing sources. 

The raise would represent a slight increase when compared to "prior efforts," the report said. The firm "plans to raise new growth, crypto and bio vehicles in 2025," according to Axios.

Andreessen Horowitz will ask "limited partners to invest via a new master vehicle that would feed into sub-funds (including some of its sector-specific vehicles)," the report also said. The firm declined to comment. 

Through its a16z crypto arm, Andreessen Horowitz has been one of the blockchain space's most prolific investors, with involvement in high-profile companies and projects like Coinbase, Mythical Games and MakerDAO.

VC flow into crypto down

The amount of venture capital flowing into crypto and blockchain focused companies has slowed considerably during the prolonged bear market currently gripping the industry. August marked the fourth month in a row where venture funding invested into crypto declined. It was also lowest monthly volume figure recorded since January 2021.

VC firm Blockchain Capital — which like Andreessen Horowitz based in northern California — recently announced it had raised $580 million for two new crypto investment funds.