Silicon Valley venture capital firm A16Z raised $2.75 billion to set up a new fund to coexist with existing cryptocurrency funds

On May 1, Silicon Valley venture capital firm Andreessen Horowitz (A16Z) announced that it had raised $2.75 billion in funding for two new funds. Of this, $750 million has been raised as the sixth general fund focused on early-stage businesses, consumers and financial technology products, coexisting with existing specialized cryptocurrency funds. Earlier reports that A16z will invest $1 billion in high-risk assets such as cryptocurrency.