a16z Raises $7.2B for Venture Strategies, Pushes for AI and Web3 Gaming
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Andreessen Horowitz (a16z) has raised $7.2 billion for five venture strategies, according to Ben Horowitz in a blog post. The money was raised for America's dynamism, games, apps, infrastructure and growth, with the largest amount going to the growth strategy at $3.75 billion.
Specifically, Games and American Dynamism have been allocated $600 million each. While the specific allocation of the newly raised funds is unclear, 16z Games Ventures has previously expressed interest in Web3 Games.
According to statements from the venture's website, a16z Games is committed to the idea that it is driving innovation in the user ecosystem, opening up new opportunities for “user engagement, retention and monetization” as seen in “microtransactions, battle passes and Web3 Tokens”.
Although crypto wasn't among the firm's first moves, a report from Bloomberg indicates that the firm is “still on track to raise additional funding” by 2025. This matches an October 2023 report, which estimates the venture capital firm is expecting $3.4 billion. Billion for some of its funds and new investment vehicles could come by 2025.
“This is an important milestone for us,” Horowitz shared in a recent blog post.
A16z has been actively investing and leading rounds in the crypto industry. In late March, the firm announced it had selected 25 startups for the Spring 2024 Crypto Accelerator, offering each firm a $500,000 investment in exchange for 7% equity.
Outside of the momentum, a16z continues to support crypto projects. The venture capital firm recently led Series B funding for Espresso Systems, a blockchain-focused Ethereum infrastructure project.
Regarding the company's support for Espresso Systems, 16z General Partner Ali Yahya said:
“At its core, crypto is a technological movement that builds tools for better human cooperation at scale — especially when collaborators trust each other.”
In early February, the venture capital firm invested $100 million in EigenLayer's Series B funding round.
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