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05/27/2022
Today in Crypto: Andreessen Horowitz Debuts $4.5B Crypto Fund; WeWork's Neumann Starts Crypto Credit Climate Firm Flowcarbon
PYMNTS.com
Andreessen Horowitz has set up a new crypto fund, its fourth, which will total $4.5 billion, a company blog said Wednesday (May 25).
Of that amount, around $1.5 billion will go to seed investments, and $3 billion to venture investments.
The company in the blog talked about “golden eras” and major computing cycles that come around every so often, listing PCs in the ’80s and the internet in the ’90s, along with mobile computing in the 2000s.
“We think we are now entering the golden era of Web3,” Andreessen wrote. “Programmable blockchains are sufficiently advanced, and a diverse range of apps have reached tens of millions of users. More importantly, a massive wave of world-class talent has entered Web3 over the last year. They are brilliant and passionate and want to build a better internet.”
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