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Vandana Malik
May 2, 2020
by Vandana Malik

Andreessen Horowitz Announces Crypto Fund Worth $515M

Andreessen Horowitz
Andreessen Horowitz which is a huge American venture capital firm has announced a crypto fund worth around $515 million. This has been a major step from the firm in order to provide funding to the whole crypto market. In future, the firm is aiming to provide even higher funding than this one towards the crypto market.

This is the second version of crypto funding by Andreessen Horowitz that is ‘Crypto Fund II’. Earlier in its first funding round, the firm has managed to raise $300 million, and now it has raised higher than that. The firm has also shown a huge interest in Bitcoin, Ethereum, MakerDAO and other DeFi platforms.

Andreessen Horowitz second crypto funding Focuses on DeFi projects

It has been mentioned by Andreessen Horowitz will be focusing more on the DeFi projects which have seen huge success in the past 12 months. Katie Haun, the co-founder of Crypto Fund II, believes that the current payment system can be improved to a great extent. The blockchain payment solution is going to play a major role in the coming future, and it will replace the banks similar to how emails have replaced the post offices.

Encouraging such projects and organisations that promote the digitization of the financial system is highly important. The firm has also shown high confidence towards the collateral lending and borrowing that is based on Ethereum.

Crypto funding is highly important for the crypto market boost

The kind of funding that has been done by Andreessen Horowitz is highly important to boost the crypto market in difficult times. Vence Spencer, co-founder of Framework Ventures has said that a firm named A16z has helped the crypto industry to a great extent during the bear market of 2018 and 2019. He has also said that this kind of funding towards the crypto industry brings out a highly bullish perspective towards the whole industry and a market boost.

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    Andreessen Horowitz Announces Crypto Fund Worth $515M
    Vandana Malik
    Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.

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