Major Venture Capital Firm in the United States is all set to Introduce a Crypto Fund Valued at $2.2 Billion

Andreessen Horowitz is one of the largest and most successful Venture Capital enterprises in the United States. The company was established by co-founders Marc Andreessen and Ben Horowitz in 2009. The company’s main focus has been to find promising startup projects and help developing companies with a sustainable business model get traction in the market.

The Venture Capital firm has now announced that it would be allocating a cryptocurrency fund valued at $2.2 billion. The news was first published in a new blog post hosted on the official website of the company. It should be noted that this new venture fund is backed by Coinbase and Facebook. According to the blog post, the main aim of the crypto fund is to find and nourish a series of blockchain experts and cryptocurrency founders.

The Global Partners of Andreessen Horowitz have High Hopes for the New Cryptocurrency Fund

The blog post about the new crypto fund claims that the venture capital firm would be seeing through crypto projects from ground zero. The fund would be on the lookout for the most potent seed projects in the blockchain space and help it grow to the point where it can be used to develop spacious networks for other projects.

The three most noteworthy partners of the firm Kathryn Haun, Ali Yahya, and Chris Dixon, have green-lit the new fund. These partners have a background in legislation, technology, and the financial field simultaneously. According to the partnering team, the project needs to cover more ground. It is mentioned in the blog post that cryptocurrency is technology as massive as the internet that has the potential to transform the financial and economic footprint forever. 

Silicon Valley Venture Capital Firm Wants to Introduce Crypto Experts to Mitigate Risks

According to the representatives of Andreessen Horowitz, it is a great idea for the consumers to ensure that there are many obstacles faced by the blockchain industry. The lack of federal regulation is one of the gravest issues that are hindering the growth of blockchain projects. Therefore, it would be a good idea to invite crypto experts to the frontlines.

At the initial stages, the crypto experts with a background in marketing, PR agencies, former policymakers, and legislators would play an important role in paving the way for the crypto sector. It should be noted that China which was a grand market for cryptocurrency miners due to cheap electricity and real estate, has gone down to take out more than 50% of funds from Bitcoin.

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