The list of successful a16z crypto startup investments is long, and most of them have been profitable leading to 17.7x returns on its first crypto fund last year.
By comparison, the overall cryptocurrency market itself only managed a 200% gain from $780 billion on January 1, 2021, to $2.3 trillion by the end of December of the same year.
a16z got into crypto early, leading a $25 million funding round into Coinbase in 2013. By the time Coinbase went public in April 2021, the firm held a 15% stake following 14 more funding rounds. The shares were worth $10 billion on the first day of trading resulting in a 60x return for the company.
“My job is not to predict the future. My job is to be smart enough to know who the smart people are who will.”worth a whopping $4.5 billion. In January, the firm said it planned to raise $3.5 billion for the fund, in addition to another $1 billion for Web3 seed investments. Journalist Alex Konrad said that a16z “plans to roll back its crypto fund into the firm — making crypto core to its main funds, akin to cloud or the internet.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Chris Dixon thinks web3 is the future of the internet — is it?Plus, why his VC firm Andreessen Horowitz has spent $3 billion on web3 startups.
Read more »
U.S. government agency accidentally killed almost 3,000 animals in 2021Indiscriminate traps, used to reduce crop and safety threats, also snared federally protected species—including a harbor seal, three golden eagles, and a bald eagle
Read more »
No charges filed in 2021 death of 19-year-old on Ken Knight DriveNews4JAX has obtained supplemental reports that indicate Tould was accidentally shot during the confrontation, then run over by a 15-year-old girl who was trying to get away after her car was also hit by gunfire.
Read more »
Greater Jacksonville High School Sports Awards: 2021-22 girls soccer nominees listThe Times-Union announces the nominees list for girls soccer at the 2021-22 Greater Jacksonville High School Sports Awards.
Read more »
Kim Kardashian Reveals She and Pete Davidson First Started Talking at the 2021 Met GalaKim Kardashian revealed that she and Pete Davidson first struck up a friendship at the Met Gala in September.
Read more »
LAX ranks as world's 5th busiest airport in 2021An international airport council has just released their list of the world's busiest airports this month. While the usual airports stick around, there are also some surprises.
Read more »