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- Chris Dixon, general partner in a16z (Andreessen Horowitz) is on the peak of “Midas List” by Forbes featuring globe’s best venture capitalists.
- There has been other noteworthy investments by Andreessen Horowitz DEX Uniswap, NFT creator Dapper Labs and others.
- Although, there remains concerns raised by a few cryptocurrency sector observers that too much of VC involvement might corrode its decentralization.
The Midas Touch
Cryptocurrency venture capital organizations are regularly making investments at unprecedented rates recently and a16z (Andreessen Horowitz) is among the top players in this sector, giving massive returns on their investments.
General partner of Andreessen Horowitz (a16z), Chris Dixon has received the crown of “Midas List” by Forbes, featuring globe’s best VC investors this year.
Seldom does a cryptocurrency and Web3 funding round finalize without Andreessen Horowitz being involved somehow. As per a report published on April 12, Chris Dixon transformed $350 Million Crypto Fund I into the land of milk and honey equalling $6 Billion previous year. It equates to a mouth watering 17.7x gains as per the sources with information of financials of the fund.
In contrast, entire cryptocurrency market itself only managed a 2X gain from $780 Billion on 1st Jan to $2.3 Trillion by year’s end.
a16z’s Movement In Crypto Sector
a16z stepped into crypto sector early, leading a $25 Million funding round into crypto exchange Coinbase back in 2013. By the time digital exchange went public back in April 2021, organization held a stake of 15% following 14 more funding rounds.
Stocks were worth $10 Billion on the initial day of trading, giving an outcome of 60X return for organization. However, this was many years before Chris Dixon’s cryptocurrency fund was released back in June 2018 with $300 Million jacked up in total.
There have been other noteworthy investments by Andreessen Horowitz involving Ethereum staking platform Lido, NFT creator Dapper Labs, Avalanche blockchain, and DEX Uniswap, all of which soared in collateral or valuation since.
The organization is piling up funds for globe’s biggest cryptocurrency funds worth an astounding $4.5 Billion. During January this year, organization stated that it planned to jack up $3.5 Billion for the fund, to contribute to $1 Billion for Web3 seed investments.
A journalist stated that a16z strategizes to roll back its cryptocurrency fund into the organization — making crypto core to its prime funds, akin to the internet or the cloud.
Although there were some concerns among some crypto sector observers that a plethora of VC involvement and investment in a project may corrode its decentralization.
Andreessen Horowitz holdings of UNI tokens and oscillation in governance votes remains a specific problem. But either way, crypto sector’s most robust venture capital organization is still out there for latest investment windows in the industry.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
