Andreessen Horowitz Flagship Crypto Fund Down 40% This Year
Marc Andreessen, co-founder of Andreessen Horowitz. Source: A screenshot, YouTube/a16z. Venture giant Andreessen Horowitz’s (a16z) flagship crypto fund has fallen 40% in the first half of this year alone, after it was set up as the crypto market peaked, according to a new report. The 40% fall for the crypto-focused venture fund is much larger than the 10% to 20% drops seen in other venture funds this year. Most venture funds have tended to stay away from crypto investments, which are seen by traditional investors as risky and in a regulatory grey area. The major decline for the crypto fund was first reported by the Wall Street Journal, which cited &ldquo ;people familiar with the matter.” Andreessen Horowitz has been one of the largest players from the world of traditional venture capital to take major steps into crypto, helped in large part by Chris Dixon, a partner at the firm who has long been a blockchain evangelist. In May this year, Dixon announ...