The investment giant announced the closure of the largest crypto fund so far

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The investment giant announced the closure of the largest crypto fund so far

Despite the bleak outlook for crypto markets based on the last few weeks of turbulence, venture capitalists who have stepped into the web3 future are not giving up. Investment giant Andreessen Horowitz, a private venture capital firm that has undergone a transformation over the past few years and increased its staff, has closed its latest and largest crypto fund to date at $ 4.5 billion.

Crypto fund 4

This is the company's fourth foray into crypto investment and the largest cash allocation dedicated to crypto and blockchain projects. The fourth crypto fund has been under construction for some time, and was first announced in January this year.

The new fund nearly doubles and increases the total amount of funds Andreessen Horowitz has raised for crypto and blockchain investments, bringing the crypto / web3 funds raised to more than $ 7.6 billion. The company said it plans to use the fund to invest directly in cryptocurrencies and blockchain capital.

Despite the current market downturn, the company is optimistic about discovering new opportunities. Marc Andreessen, co-founder of a16z (Andreessen Horowitz), commented that cryptocurrencies are still in "early inning" and added that the market has great potential for growth.

“Bear markets are often the times when the best opportunities arise, when people can focus on building technology instead of being hampered by short-term price activity,” said Arianna Simpson, general partner of Andreessen Horowitz.

The company has secured its place at the forefront of the crypto market in recent years, having invested heavily in some of the leading projects such as Solana, Uniswap, Dapper Labs and Axie Infinity. This is not the first time Andreessen Horowitz has launched a crypto fund during a market crash.

The company’s previous $ 2.2 billion Crypto Fund III was launched in June 2021, just weeks after the crypto market suffered its worst decline in more than a year. Despite the crypto sector recently reaching its lowest market capitalization, investing in crypto projects is still slowing slightly, but Andreessen Horowitz seems to want to take advantage of the currently depressed market to continue his crypto investments.