Andreessen Horowitz has confirmed a $300 million fund that will be dedicated to crypto investments; this is great news for the crypto markets as prices continue to plunge.
One of Silicon Valleys biggest contender, Andreessen Horowitz closed the deal last week and had also appointed its first female general partner, Katie Huan.
Interest in Haun has been rising the past few years and will lead the fund with Chris Dixon. Other firms in the space have kept a close eye on any moves Andreessen Horowitz makes to help develop their own strategy.
This is a huge deal for both the crypto community as well as female representation within the space. Huan was an early advocate for crypto as well as spending a decade as a federal prosecutor with the U.S. Department of Justice.
Huan was also the DOJ’s first-ever coordinator for digital assets and led the investigations into Mt.Gox and took part in taking down the Silk Road.
This move could ultimately lead to more funds being opened to compete, which in turn could turn our bear market, back to a bull market.
Huan and Dixon have a lot of hope for the markets; they stated: “We’ve never sold any of our crypto assets. A lot of people in the market are day trading, but we very much see this as investing. We’d expect any investment to have a five- to ten-year holding period. Some of these projects could have tokens that are freely tradable, so there’s the potential to have an exit that way.
“The most likely outcome is we invest in an early-stage project, and we receive coins or tokens in exchange for [our commitment], and if the project becomes successful, those digital assets appreciate when that thesis is played out. But if we invest in some project that will be used by hundreds of millions of people, we wouldn’t want to exit until that’s realized.”