Report: Venture Capital Powerhouse Andreessen Horowitz Aiming to Raise Cryptocurrency Fund
A big name in Silicon Valley finance is about to take a new, deep, and direct plunge into cryptocurrencies, if a recent newspaper article is accurate. The Financial Times reported Friday, citing "four people with knowledge of the process," that high-profile venture capital firm Andreessen Horowitz aims to raise a cryptocurrency fund powered by $800 million to $1 billion in investment capital.
The fund would invest not only in such currencies but also in start-up businesses connected with them.
The firm is no stranger to cryptocurrencies. It was an investor in Coinbase Global (NASDAQ: COIN), the trading platform that recently went public and currently stands at a market value exceeding $55 billion.
Source Fool.com