Is Andreessen Horowitz betting on crypto?

We’ll send you a myFT Daily Digest email rounding up the latest Andreessen Horowitz news every morning. Andreessen Horowitz, the Silicon Valley venture capital group, is betting on crypto to break up the excessive concentration of Big Tech power that the firm played a prominent role in creating, according to one of its leading partners.

What is Andreessen Horowitz's new fund?

Andreessen Horowitz’s new fund comes amid a crypto gold rush. So far this year, venture capitalists have invested $17 billion in crypto companies, according to Bloomberg. Union Square Ventures, another early investor in Coinbase, will reserve 30 percent of its new $251 million fund for crypto companies.

How did John Andreessen & Mark Horowitz make money?

As venture capitalists, Mr. Andreessen and Mr. Horowitz aggressively raised money and outbid rivals, taking early stakes in Facebook, Twitter, Pinterest, Airbnb and Slack. Mr. Andreessen defined the approach as “us versus the world.”

What is Andreessen's crypto fund?

Since its crypto fund was launched in 2018, Andreessen has raised more than $7.6bn to invest in cryptocurrencies and related technology companies. Instead of receiving traditional equity, it has been investing in tokens, a form of digital asset built on the blockchain, which can be traded.