About $ 1.3 billion from the fund will be used to invest in seed rounds of startups and $ 3 billion for venture investments, the company said in a blog post.
Reuters
May 25, 2022 / 06:39 PM IST
Source: Reuters
Venture capital giant Andreessen Horowitz said on Wednesday it has raised $ 4.5 billion for its fourth cryptocurrency fund, bringing its total funds raised for digital currency investments so far to more than $ 7.6 billion.
About $ 1.3 billion from the fund will be used to invest in seed rounds of startups and $ 3 billion for venture investments, the company said in a blog post.
The latest funding comes on the heels of sharp fall in the value of cryptocurrencies in recent weeks, with bitcoin losing over a third of its value in just two months.
Andreessen Horowitz unveiled a $ 2.2 billion fund to invest in crypto networks in June last year. The firm raised $ 9 billion across three new funds to invest across startups in different sectors earlier this year.
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