Andreessen Horowitz is tripling down on crypto, announcing in a blog post Thursday that it had raised another $2.2 billion for its third crypto fund. "The size of this fund speaks to the size of the opportunity before us: crypto is not only the future of finance but, as with the internet in the early days, is poised to transform all aspects of our lives," Chris Dixon, Katie Haun and Ali Yahya wrote in the post.
The firm was an early backer of Coinbase, which went public through a direct listing earlier this year, and is one of the largest investors in the cryptocurrency space. As part of the fund, a16z is adding Biden adviser Tomicah Tillemann as its global head of policy.