A $300 million fund centered on cryptocurrencies has recently been launched by Silicon Valley investment powerhouse Andreessen Horowitz (a16z).
The fund will be called “a16z”, as described in an article published Monday, and will remarkably feature former federal prosecutor and Assistant U.S. Attorney Kathryn Haun as one of its co-leads. Kathryn was also named the company’s latest general partner.
The fact that the investment firm will try to significantly broaden the extent of its activities in the industry is not surprising, giving the huge sums of money it has invested into projects and protocols built around a variety of use cases. A good number of new ventures, including crypto exchange Coinbase, have also received funds from Andreessen Horowitz.
General partner Chris Dixon pointed out in the article that the crypto-fund will take a decidedly extensive tack in its assets.
“We have been making investments in crypto assets for more than 5 years,” he wrote. “We have never sold any of those assets, and do not plan to any time soon. We organized the a16z crypto fund to be in a position to hold investments for 10+ years.”
Dixon went on to add:
“We prepare to invest regularly with time, irrespective of market conditions. If there is another ‘crypto winter,’ we’ll keep investing boldly.”
In yet another tip at the fund’s general thesis, Dixon stated that a16z will concentrate its endeavors on tasks with a “non-speculative use case.”
“We would like services run by crypto protocols to be utilized by hundreds of millions and eventually billions of people,” Dixon wrote. “Crypto tokens are the indigenous asset class of digital networks, however, their value is powered by the underlying, practical uses cases.”