At a time when the broader crypto market has entered a downturn following the collapse of TerraUSD (CRYPTO: USDT) and LUNA (CRYPTO: LUNA), Andreessen Horowitz (a16z), a Silicon Valley-based venture capital firm, has announced the raise of a whopping $4.5 billion for a new crypto fund.
The firm’s fourth and biggest so far, "Crypto Fund 4" doubles the size of a16z’s previous crypto fundraised in June last year, showcasing that despite the ongoing turmoil, partners at Andreessen Horowitz are looking to get more exposure to promising Web3 startups.
