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VC Firm Andreessen Horowitz Targets $450M for Second Crypto Fund: Report
Sources told the Financial Times that Andreessen Horowitz (a16z) is raising another crypto fund, reportedly targeted at $450 million.
By Brady Dale
Updated Apr 10, 2024, 2:50 a.m. Published Apr 14, 2020, 8:05 p.m.
Sources told the Financial Times that Andreessen Horowitz(a16z) is raising another crypto fund, reportedly targeted at $450 million.
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Citing two sources with knowledge, FT says a16z has yet to close the fund but may do so soon. The size of the fund is not capped.
A spokesperson for a16z declined to comment to CoinDesk.
One of the most well-known venture firms in Silicon Valley, a16z launched a crypto fund of over $300 million in 2018. The venture firm has been extremely active in investing across the crypto space, with investments in companies including Celo, TrustToken and Arweave.
Notably, it backed Coinbase as early as 2013. More recently, a16z was a founding member of Facebook’s Libra Association.
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French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
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- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
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