Andreessen Horowitz launched a cryptocurrency fund on $2.2 billion – Bits Media

Venture capital firm Andreessen Horowitz has launched Crypto Fund III on $2.2 billion for the development of projects, using blockchain and cryptocurrencies.

The company began to support the cryptocurrency industry in 2018 year, Opening a fund with capital $300 million. Last year, Andreessen Horowitz launched a new cryptocurrency fund in the amount $510 million. Funds from these funds were aimed at financing well -known startups, Such as Uniswap, Compound, Dapper и Protocol Labs.

The launch of the new fund speaks of, that the company decided to go v-bank, To push the development of the cryptocurrency industry. Today, Crypto Fund III is the largest cryptocurrency fund. It is aimed at developing cryptocurrency projects, Be it a new startup or company, for a long time working in the market.

Andreessen Horowitz partners Chris Dixon (Chris Dixon) And Katherine Hon (Kathryn haun) consider, that cryptocurrencies and blockchain have great potential for creating new control systems. In them, various communities can make collective decisions on the development of the network, establish the rules of behavior in it and distribute economic benefits. Although the cost of crypto assets can vary greatly, Innovations do not stand still and grow with each cycle, Hon said.

Besides, The company's team was replenished with five leaders. These included the former head of the communications department on Twitter, Google and Facebook Rachel Gorovits (Rachel Horowitz), former senior adviser Hillary Clinton (Hillary Clinton) Tomika Tillemann (Tomicah Tillemann), as well as the former commissar of the US Securities and Exchange Commission (SEC) Bill Hinman (Bill Hinman), known for his statements about that, that ether is not considered a security.

Recall, what in 2019 year Andreessen Horowitz held meetings with Washington regulators, to convince them of the potential of cryptocurrencies, and also became the organizer of a free cryptocurrency course for entrepreneurs.