Written byBhavika Bhuwalka ·
Silicon Valley's leading venture capital firm Andreessen Horowitz has launched a new $300-million fund that is focused on cryptocurrencies.
Named "a16z," the fund has notably gotten on board former federal prosecutor Kathryn Haun as one of its leaders and general partners.
The venture capital giant is "investing aggressively" in crypto, regardless of the fact that cryptocurrencies have dropped by over 50% this year.
Haun is on the boards of Coinbase and HackerOne. Earlier, she was with the US Justice Department for 10 years, having launched the first cryptocurrency task force.
Silicon Valley's venture capital industry has been getting more women to make investment decisions as it faces backlash for its dominantly male demographic.
Recently, Bain Ventures added its first female general partner and Greylock added its second.
According to Andreessen Horowitz, the new crypto fund has been structured to hold investments for 10 years or more. This is due to the highly volatile nature of cryptocurrencies.
Further, the crypto-fund will invest in companies and startups that are at any stage and in any country.
Its investment too could range from being blockchain-related to initial coin offerings (ICOs).
General partner Chris Dixon said, "We've been investing in crypto assets for 5+ years. We've never sold any of those investments, and don't plan to any time soon. We plan to invest consistently over time, regardless of market conditions."
In the past, Andreessen Horowitz has invested in various projects and startups built around a range of use cases, including crypto exchange Coinbase. Notably, in its last fund, the venture capital firm has already invested about $100 million in crypto.
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