Ever since the year 2020 started, the entire cryptocurrency industry has been rapid progress. The industry has gained enormous adoption and rally over the past couple of years. With the passage of time, several mainstream institutions have found their way into the crypto world.
In the past, hardly any mainstream institution want to do anything with cryptocurrencies. Now, almost every other mainstream institution is trying to get its hands on cryptocurrencies. While the majority of mainstream and investment firms aim to gain as many profits from cryptocurrencies as possible. Some firms aim to introduce advancements, developments, and innovations to the crypto-verse.
However, nothing is possible without funds, and many firms in the cryptocurrency verse aim to acquire them via fundraisers. This is where Andreessen Horowitz comes in as one of the top companies that have taken part in many fundraisers for different cryptocurrency startups.
Andreessen Horowitz has taken part in many cryptocurrency fundraising rounds for different ventures. Now, it is getting ready to take part in yet another fundraising round and this time, the funding round is going to be tremendous.
Even some the news reporting firms such as the Financial Times have covered the story of Andreessen Horowitz for its fundraising ventures. The Financial Times has praised how Andreessen Horowitz has been making a difference with its capabilities.
According to reports, this is going to be the largest fundraising round ever conducted by Andreessen Horowitz. The firm has announced that the money raised from the particular funding round will be used in the cryptocurrency sector.
The funds will help the company focus its attention and skills towards the growth of the cryptocurrency industry. More opportunities and easy methods for cryptocurrency investments will be introduced in order to accommodate the investors.
One of the inside sources has revealed that this particular funding round will be one of a kind. The reason behind that is the amount that Andreessen Horowitz is aiming to generate from it. The sources have reported that the minimum fundraising expectation is $800 million while the maximum is $1 billion.
A16z is another name that has been given to Andreessen Horowitz as a Venture Capital. The company is always busy making investments in sectors such as blockchain and cryptocurrencies. So far, the company has invested in several projects.
One of the major investments ever made by Andreessen Horowitz is in Coinbase, which is one of the largest cryptocurrency exchanges. They reportedly acquired a huge amount into acquiring many shares for Coinbase as it went public.
Then the firm reportedly offloaded an enormous amount of shares for Coinbase bringing in around $120 million for the company.
Prior to the recent funding round, Andreessen Horowitz had generated $550 million from the last funding round.