a16z opening London crypto office citing 'predictable' environment
Venture capital firm Andreessen Horowitz (a16z) is set to open its first office outside of the United States this year, adding to the backdrop of U.S.-based firms seeking greener pastures outside of the country.
Chris Dixon, a16z’s crypto founder and managing partner cited a “predictable business environment” as one of the main factors behind its decision to expand, and comes amid a slew of regulatory actions against crypto firms in the United States in recent months.
Big news to share: @a16z is expanding to the UK We plan to open our first international office in London later this year, and will host the next Crypto Startup School there in 2024.Why the UK? https://t.co/PQ7GuNEn77
Dixon said the decision was finalized after a “productive dialogue” with the U.K. Prime Minister in addition to “months of constructive conversations” with HM Treasury, UK policymakers, and the Financial Conduct Authority.” He added:
However, Dixon said the firm remains “heavily invested” in the U.S., and will continue to work with policymakers and regulators to push for more regulatory clarity for crypto start ups.
Rishi Sunak — the U.K.’s new pro-crypto Prime Minister — attributed the news of a16z’s expansion to having the “right regulation and guardrails” set in place to “foster innovation” while still protecting consumers.
Sunak said he was “thrilled” with a16z’s decision:
In addition to the new office, a16z has also announced its plan to launch a new “Crypto Startup School” (CSS) program in London in the Spring (March to June) of 2024.
The CSS accelerator program will aim to attract U.K. and international entrepreneurs keen on forging a career in Web3.
The most recent CSS program received more than 8,000 applicants, with 26 companies receiving
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