Andreessen Horowitz Raising $450mn for New Crypto Fund

Andreessen Horowitz is looking to raise $450mn for their second cryptocurrency fund after raising $350mn for their first fund in 2018; the venture capital firm made their name on investments in Facebook and Twitter, more recently they have become one of the biggest VC investors in the crypto space; the FT reports that the fund could be finalized within the next week but they have not yet decided on a hard cap on its size; cryptocurrencies have done pretty well during the current crisis after some early turmoil in the space; according to the Bloomberg Galaxy Crypto Index cryptocurrencies were up about 6.5 percent this year; the firm’s first fund focused on new protocols and projects that were backed by reserve assets like the U.S. dollar. Financial Times

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