Foreign media: Silicon Valley's top venture capital a16z then shot, or will raise 450 million US dollars of cryptocurrency funds

FT reported on Tuesday that Silicon Valley investment giant Andreessen Horowitz (a16z) is seeking to raise US $ 450 million to establish a second fund focused on cryptocurrencies.

FT quoted "two insiders" as saying that a16z "may finalize the new fund in about a week, but has not yet set a hard limit on its size."

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a16z declined to comment.

A16Z, founded 10 years ago, is known for providing funding for technology companies and visionary entrepreneurs. The agency has 3 funds used to invest in startups, including cryptocurrency funds.

The investment company's first dedicated cryptocurrency fund attracted $ 350 million in capital entrustment in mid-2018. A16z also opened a cryptocurrency school for entrepreneurs in the industry.

A16z is one of the largest investment proponents in the cryptocurrency industry, investing in large companies such as Coinbase, Libra and Polychain. It also invested in some important projects and formed an open finance (DeFi) ecosystem, such as Maker, Compound, and dYdX.

The company is also a member of Facebook ’s Libra Association and participated in the financing of this project.

According to an investigation by The Block, there are already some investment companies in action, either raising funds to create new funds, or announcing the closure.

At present, countries around the world are waiting for further progress on coronavirus measures, and the global market has rebounded to some extent. However, given the current situation, technology investors are still cautious.