Andreessen Horowitz Backs Blockchain Startups With New $2 billion+ Crypto Fund III

Andreessen Horowitz has opted to go deeper into the blockchain space with a third fund aimed at supporting blockchain startups.

The fund is looking to raise as much as $2.2 billion for blockchain investments, and based on the last two funds from the firm – it will have zero trouble attracting capital.

In addition to being able to raise funds on a large scale, Andreessen Horowitz has picked some winning companies over the past few years.

It backed Dapper Labs, which makes NBA Top Shot, and gained a more than $7 billion valuation earlier this year.

The simple fact is that regardless of Bitcoin or Ethereum’s market price on a day-to-day basis, there is a lot of money looking to enter the blockchain space – and why not?

Andreessen Horowitz is Good at Being Right

The fine folks at Andreessen Horowitz didn’t get to where they are by being dummies.

While many Wall St. firms were blasting blockchain technology, Andreessen Horowitz was launching its first two blockchain funds – and growing its total amount of investment capital.

It looks like it has been successful at both showing investors it knows how to enter a new space and create returns, but it is curious that there is still so much anxiety surrounding blockchain and cryptos in general.

Anyone who lived through the Dot.Com boom/bust remembers how silly it got when the year 2000 rolled around.

Pets.com is a common example, but it is one of many companies that had zero to offer investors, especially at million-dollar valuations.

Maybe Look at Other Areas of the Market

We are increasingly driven by how we feel about an idea – for example – do I like the fact that inflation is picking up – and prices will likely rise substantially over the coming decade.

Most…

Read More