Venture capitalist firm Andreessen Horowitz has launched Crypto Fund III, a $2.2 billion crypto fund on “radically optimistic” expectations.
Cryptocurrencies are currently going through a rough stretch, with price drops and fluctuations across the board. Despite that, Andreessen Horowitz sees the technology as critical to the next wave of innovation, according to the company’s announcement.
We believe that the next wave of computing innovation will be driven by crypto. We are radically optimistic about crypto’s potential to restore trust and enable new kinds of governance where communities collectively make important decisions about how networks evolve, what behaviors are permitted, and how economic benefits are distributed.
Along with the $2.2 billion fund to continue investing in crypto, the company has also added a slew of “heavy-hitters” to its team, including a former SEC director, political advisors, financial advisors, entrepreneurs and a computer scientist.
Despite the current fluctuations, Andreessen Horowitz is confident the overall trend of the tech is one of continued innovation.
The history of crypto shows that asset prices may fluctuate but innovation continues to increase through each cycle. We’ve never been more excited about where crypto is headed and we’re going all in on the talented, visionary founders who are determined to be part of crypto’s next chapter.