This is the news of the day as launching a $300M crypto venture fund Andreessen Horowitz open up a new phase in the crypto movement.
In a blog post they say:
We’ve been investing in crypto assets for 5+ years. We’ve never sold any of those investments, and don’t plan to any time soon. We structured the a16z crypto fund to be able to hold investments for 10+ years.
The main rationales behind their choice are four and include:
“In an era in which the internet is increasingly controlled by a handful of large tech incumbents, it’s more important than ever to create the right economic conditions for developers, creators, and entrepreneurs.”
“We believe that just as the last three megatrends — mobile, social, and cloud — intersected and reinforced each other, so will the next three megatrends — next-gen computing devices, AI, and crypto.”
3. THE MOVEMENT
“Although the Bitcoin whitepaper is now almost 10 years old, we believe we are still early in the crypto movement.”
4. SOFTWARE IS EATING THE WORLD
“We are deep believers in the power of software.”
Find out more here.