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Andreessen Horowitz plans $1 billion cryptocurrency VC fund: Report

Frankfurt, Hesse, Germany - April 17, 2018: Many coins of various cryptocurrencies

Venture capital giant Andreessen Horowitz is looking to raise a fund of as much as $1 billion to invest in cryptocurrencies and crypto startups, the Financial Times reported on Friday.

The new fund is aiming to raise between $800 million and $1 billion from investors, the report said, citing people familiar with the matter. Andreessen Horowitz did not immediately respond to a Reuters request for comment.

The news of the development comes as cryptocurrencies surge in value this year, with a clutch of top-tier firms including Tesla diving into the space.

Source: https://economictimes.indiatimes.com/tech/funding/andreessen-horowitz-plans-1-billion-cryptocurrency-vc-fund-report/articleshow/82339209.cms

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