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13.06 - 20:05
Andreessen Horowitz raises $4.5 billion for fourth crypto fund
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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.
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