a16z eyes $10B in new funds, but leaves crypto behind despite bullish talk

Venture capital firm Andreessen Horowitz (a16z) is reportedly aiming to raise approximately $10 billion across several new funds, focusing heavily on artificial intelligence and defense industries. The proposed allocation includes $6 billion for mature companies, $1.5 billion each for AI applications and infrastructure, and over $1 billion for a defense and manufacturing vehicle. This reported fundraising plan is significant because it completely omits a dedicated crypto-focused fund, which is a notable absence for a firm that has been a major backer of the digital asset industry through its a16z Crypto arm. This omission is surprising given that a16z's recent State of Crypto report expressed bullish sentiment about the global growth and mainstream adoption of crypto. However, a16z has not entirely abandoned crypto, having recently invested in Solana-based liquid staking protocol Jito and Web3 company LayerZero, and even shifted focus to its US crypto efforts by closing UK offices. The article also touches upon the ongoing controversy surrounding venture capital influence in the crypto ecosystem, referencing comments from Ethereum co-founder Joseph Lubin who acknowledged VCs aim to extract value but also contribute to decentralization.

(Source：Cointelegraph)