The biggest name in crypto venture capital closed another mammoth fundraise. The digital assets arm of Andreessen Horowitz, which goes by a16z crypto, announced Tuesday morning that it’s drummed up $2.2 billion for its fifth venture fund. The firm also announced it has promoted its CTO Eddy Lazzarin to general partner.
Andreessen Horowitz is one of the earliest marquee VC firms to bet big on crypto. Led by managing partner Chris Dixon, the venture giant’s crypto arm raised its first fund of $300 million in 2018. Dixon has since built a crypto goliath, raising four subsequent funds to bring the amount of capital it has accumulated to $9.8 billion. That total includes the $4.5 billion a16z crypto raised for its fourth vehicle in 2022.
