Silicon Valley investment powerhouse Andreessen Horowitz has launched a new $300 million fund focused on cryptocurrencies.
Reessen Horowitz has also invested in a number of notable startups, including crypto exchange Coinbase.
General partner Chris Dixon indicated in the post that the crypto-fund would take a decidedly long-term tack in its investments.
"We've been investing in crypto assets for 5+ years," he wrote.
"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."
"We plan to invest consistently over time, regardless of market conditions. If there is another 'crypto winter,' we'll keep investing aggressively."
In another hint at the fund's overall thesis, Dixon said that a16z would focus its efforts on projects with a "Non-speculative use case."
"We want services powered by crypto protocols to be used by hundreds of millions and eventually billions of people," Dixon wrote.
"Crypto tokens are the native asset class of digital networks, but their value is driven by the underlying, practical uses cases."
CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Andreessen Horowitz Has Launched a $300 Million Crypto Fund
Published on Jun 25, 2018
by Coindesk | Published on Coinage
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