Andreessen Horowitz bets on crypto with $4.5-bn fund, largest of its kind

Sagging crypto prices and the collapse of the TerraUSD stablecoin are no deterrent for venture capitalists who still see a lot of promise in the industry. In the latest example of that commitment, Andreessen Horowitz said Wednesday that it had raised a $4.5 billion crypto fund, the industry’s largest to date. 

The firm is dedicating $3 billion to venture investments and $1.5 billion to seed investments. The fund, the fourth crypto-dedicated investment vehicle for Andreessen Horowitz, brings its total digital-asset-focused efforts to $7.6 billion. It has backed some of the biggest names in blockchain, including crypto exchange Coinbase Global Inc.,