A16z eyes $3.4B raise for next venture funds: Axios

Andreessen Horowitz reportedly expects to raise $3.4 billion for its next early and seed-stage venture funds.

Axios reported Monday that a16z, the largest venture capital firm by assets under management, will launch its fundraising efforts by the end of this year with an aim of closing them during the first half of 2024.

Blockworks reached out to a16z but didn’t receive an immediate response.

While a16z is chiefly known for focusing on tech, the burgeoning AI sector, and social media platforms for investment, the firm’s portfolio also includes buying in crypto projects and businesses. 

A16z’s notable crypto investments include Coinbase, Aptos, Avalanche, Dapper Labs, Layer Zero, OpenSea and Worldcoin, among others.

Crypto investing will remain a priority, with new investing vehicles coming in 2025, Axios reported. 

Among the firm’s recent crypto investments was smlXL, which raised $13.4 million in late October. 

In September 2022, a16z Crypto led a $16.8 million seed round for NFT-focused startup IYK alongside Collab Currency, Lattice Capital, 1kx, Synergis Capital and others.

A16z has demonstrated growing interest in the UK market as well.

A16z wrote to the UK government in May in response to a February call for consultation on crypto regulation. The venture firm urged the country to avoid a “one-size-fits-all” approach and criticized US regulators for relying on the “difficult to enforce” Howey test for its securities regulation framework.

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