Founded by Marc Andreessen and Ben Horowitz, Andreessen Horowitz, one of the major venture capital firms strong in the cryptocurrency space, plots to create a cryptocurrency investment fund dedicated to exchanging crypto assets.
The new fund could indicate what some believe to be the next trend of innovation: according to Recode, direct investor link in cryptocurrencies.
Usually, venture capital firms have been distrustful having direct involvement with cryptocurrencies. According to some, their limited partners could carry out their own investments without having to pay the fees needed to be paid to the venture capital firms. For others, including conservative limited partners, their concern is about regulation related risks.
However, in the crypto space, Andreessen Horowitz has an exceptional record. General partners Chris Dixon and Alex Rampell who are the team leaders are considered as the guiding light for the assets class in Silicon Valley.
For the time being, the company has invested in two different funds. One of the funds is the early-and late-stage startups with a total of $1.5 billion while the other is bio projects which funded the company with $450 million for investing with certain types of firms.
Some of the other investments of the company’s blockchain and cryptocurrency include Coinbase, Ripple, CryptoKitties Polychain Capital, a crypto specific fund and ICOs. There is yet to be any trading investment with assets like bitcoin.