Andreessen Horowitz plans $1 billion cryptocurrency VC fund – FT

FILE PHOTO: The exchange rates and logos of Bitcoin, Ether, Litecoin and Monero are seen on the display of a cryptocurrency ATM in Zurich
FILE PHOTO: The exchange rates and logos of Bitcoin (BTH), Ether (ETH), Litecoin (LTC) and Monero (XMR) are seen on the display of a cryptocurrency ATM of blockchain payment service provider Bity at the House of Satochi bitcoin and blockchain shop in Zurich, Switzerland March 4, 2021. REUTERS/Arnd Wiegmann

April 30, 2021

(Reuters) – Venture capital giant Andreessen Horowitz is looking to raise a fund of as much as $1 billion to invest in cryptocurrencies and crypto start-ups, the Financial Times reported on Friday.

The new fund is aiming to raise between $800 million and $1 billion from investors, the report said, citing people familiar with the matter.

Andreessen Horowitz did not immediately respond to a Reuters request for comment.

The news of the development comes as cryptocurrencies surge in value this year, with a clutch of top-tier firms including Tesla Inc diving into the space.

(Reporting by Akanksha Rana; Editing by Aditya Soni)