Andreessen Horowitz is preparing a $ 1bn cryptocurrency VC fund
Andreessen Horowitz, one of Silicon Valley’s most lucrative companies, wants to raise $ 1bn to invest in cryptocurrencies and cryptocurrencies, having won money at Coinbase.
The new fund, Andreessen’s third-largest cryptocurrency fund, wants to raise between $ 800m and $ 1bn from investors, according to four people familiar with the process.
This could make it one of the most valuable cryptocurrencies and the potential for the growth of existing ones. The company declined to comment.
Andreessen’s insistence on earning money comes as some cryptocurrency traders raise big arms, promoted by the vast market for bitcoin, ethereum and other electronic devices.
Cryptocurrency financial authorities are beginning to recognize profits from Coinbase, a digital currency exchange that began to spread this month and is now priced at about $ 60bn, as well as from direct cash transactions that have grown significantly in the last 12 months.
The return has encouraged corporate founders as a gift and a foundation to re-invest in emerging technologies, despite the uncertainties in the major markets in the market.
Pantera Capital, one of the leading cryptocurrency startup companies, wants to raise $ 600m to create a new blockchain fund that combines investment in the private sector and retail businesses, they say.
Pantera’s most recent raise was $ 175m in 2018 and was 3.8 times more than January, according to its report. web page.
Last month, investors including Sequoia Capital China donated $ 225m to the second cryptocurrency fund released by Dragonfly Capital, more than double the amount Dragon Dragon released in 2018.
Andreessen’s fundraiser could compete with the pool being promoted by Paradigm, a cryptocurrency trading company founded by Coinbase co-founder Fred Ehrsam and former Sequoia Capital partner Matt Huang in 2018.
Paradigm has received a total of $ 1bn from investors including donations from Harvard and Yale universities, according to PitchBook data. The company withdraws funds from open assets that do not require a refund on the due date.
Coinbase’s direct line-up to the Nasdaq version this month has created a buzz for first-time investors and employees, who want to replenish what they have found in new businesses. The market price of the company reached $ 75.9bn in early sales, though it has dropped by about 20% lower when individual shareholders lower their prices.
Founded in 2009 by Marc Andreessen and Ben Horowitz, Andreessen Horowitz, a resident of Silicon Valley, was the first to invest in cryptocurrency groups including Coinbase and Ripple through traditional channels.
Andreessen’s price at Coinbase was the best, and was worth $ 11.2bn at the first sale price. The company has sold about $ 120m of shares since Coinbase first announced, according to the game.
After raising his first investment in 2018, Andreessen became a major investor in what is known as the financial sector and was one of the founders of the Facebook Libra project, called Diem.
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Andreessen was transformed into an investment advisor in 2019, a variation that makes the volatility of cryptocurrencies and other factors for which retail investments are not limited. The company managed $ 35.8bn on maintenance at the end of last year, the show showed.
At the end of its investment, Andreessen’s third cryptocurrency wallet will almost double the size of his last car, which raised $ 515m a year ago.