Andreessen Horowitz (a16z), a venture capital firm that has invested extensively in the crypto industry, is looking to raise $4.5 billion for new funds, the Financial Times reported.
The firm told investors it is looking for $3.5 billion for a crypto venture fund, the FT said, citing people briefed on the discussions. That will surpass the $2.2 billion it raised in June for its Crypto Fund III, at the time the industry’s largest.It has targeted another $1 billion for a fund that will invest in seed funding for digital asset startups, according to the FT. The discussions took place last week, the U.K. newspaper said.The new crypto fund would be the industry’s largest, overtaking the $2.5 billion raised by Paradigm in November. It comes just weeks after Katie Haun, an a16z partner, said she was leaving the company to start her own venture capital firm.