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Summary
- Andreessen Horowitz, co-founded by Ben Horowitz, has launched its crypto fund called Crypto Fund III.
- US$2.2 billion will be invested in blockchain, crypto networks, and related startups.
- It launched its crypto funds three years ago when crypto values were low.
Ben Horowitz, co-founder and general partner at the venture capital firm Andreessen Horowitz, has been in the news since his firm launched a US$2.2 billion fund to invest in cryptocurrency. It is its third round of crypto funding.
Andreessen Horowitz, Silicon Valley-based venture capital firm, is led and founded by Ben Horowitz. Andreessen will invest in blockchain, crypto networks, founders, and networks building crypto space. Funds will be invested in startups and fully developed crypto networks.
The firm says it believes that the next wave of computing innovation will be driven by crypto. The firm is optimistic that the potential of crypto will restore trust and enable new kinds of governance, in which communities will collectively make important decisions, like how networks evolve, what kind of behaviors are permitted, and how economic profits are distributed.
Also read: Is it wise to buy Bitcoin?
Source: Pixabay.
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Chris Dixon and Katie Haun will lead this third round of crypto funding, as per a press release. “Size of funds showcases the vast opportunities being offered. Cryptocurrency will not remain only related to future finances, but it will touch all aspects of people’s lives. Like that happened with the internet,” said Katie Haun in the release.
The company launched its first crypto fund three years ago when Bitcoin value was down 20% from its high in 2017. Even now, crypto values have gone down by 50% since their high last April. This week also the value of crypto has dipped by 20% following China’s ban on cryptocurrencies.
Who is Ben Horowitz?
Ben Horowitz is also a New York Times bestseller author with his books “The Hard Thing About Hard Things” and “What You Do Is Who You Are”. He also launched a16z Cultural Leadership Fund that connects cultural leaders with technology companies. The fund also helps African youth to enter the technology world.
Also read: Which are the top cryptocurrency stocks to explore in the US?
Earlier, Ben had co-founded Opsware (formerly Loudcloud). Hewlett-Packard bought it for US$1.6 billion in 2007 and appointed Ben as VP and general manager of the Business Technology Optimization division at HP. Before that, he was vice-president and general manager of America Online’s e-commerce platform. Ben had also worked for Netscape Communications.
Also read: Can Dogecoin touch $1 this year?
He has done master's in computer science from UCLA and a bachelor's in computer science from Columbia University. He serves as a consultant on the boards of companies like Databricks, Mayvenn, Usermind, NationBuilder, Sisu, TripActions, among others.
