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a16z Crypto completes fundraising for its fifth fund with $2.2 billion, CTO Eddy Lazzarin promoted to General Partner
Deep Tide TechFlow News, May 5th, according to The Block, the venture capital firm Andreessen Horowitz’s crypto arm a16z crypto has completed fundraising for its fifth fund of $2.2 billion. The fund size is smaller than the record-breaking $4.5 billion fourth fund in 2022. a16z crypto partner Paul Cafiero stated that the company intends to return to a smaller fund size because “shorter fundraising cycles allow us to keep up with the rapidly changing crypto trends.” Previously, a16z crypto’s fund sizes were $2.2 billion for the third fund in 2021, $515 million for the second fund in 2020, and $350 million for the first fund in 2018.
a16z crypto also announced that CTO Eddy Lazzarin has been promoted to General Partner (GP), joining Chris Dixon, Ali Yahya, and Guy Wuollet as the company’s fourth general partner.
a16z crypto stated that although the market is in a relatively calm phase, adoption signals are improving, and pointed out that stablecoin usage continues to grow, with blockchain applications in capital markets becoming increasingly widespread, including perpetual contracts for price discovery, prediction markets for information aggregation, and on-chain lending for stablecoin credit markets. The firm also cited the GENIUS Act as an example of a clearer regulatory framework, maintaining an “hopeful and optimistic” attitude toward the passage of the Clarity Act this year. The fund will be 100% focused on crypto investments and will not expand into adjacent fields such as AI or robotics.
a16z crypto has previously invested in projects like Coinbase, Uniswap, Solana, Kalshi, Anchorage Digital, and Phantom. Recently, other crypto venture funds have also been active, with Haun Ventures raising $1 billion for its second fund earlier this week, Dragonfly completing a $650 million fourth fund, Paradigm reportedly seeking a broader fund of up to $1.5 billion, and Blockchain Capital raising approximately $700 million.