Betting on what it calls the most recent main computing mannequin, the A-list enterprise capital agency Andreessen Horowitz–generally known as a16z–introduced at the moment that it has launched a $300 million cryptocurrency fund.
The fund is the one one run by a significant VC agency, studies the Wall Street Journal.
In a weblog put up asserting the brand new fund–in addition to new a16z common accomplice Kathryn Haun (its solely feminine GP)–the agency’s Chris Dixon wrote that though the white paper that launched bitcoin (and thus cryptocurrencies) is now nearly 10 years previous, “we imagine we’re nonetheless early on within the crypto motion,” and that “the infrastructure must be improved and the purposes are troublesome for non-early adopters to make use of.”
Nonetheless, Dixon, additionally an a16z common accomplice, believes that crypto purposes will quickly mature, partially as a result of the “house is growing extraordinarily quickly … as a result of the code, information, and information is essentially open supply, and partly due to the rising influx of expertise.”
Dixon wrote 16z has been investing in crypto for greater than 5 years, and has by no means bought any of these positions–nor does it plan to anytime quickly. It expects to carry onto its present and new crypto investments for no less than 10 years.
Additionally, a16z expects to carry regular on its crypto investing, no matter whether or not there’s a downturn within the cryptocurrency market. “If there’s one other ‘crypto winter,” Dixon wrote, “we’ll maintain investing aggressively.”