RATE Group | Andreessen Horowitz raises $515M for second blockchain and cryptocurrency fund
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Andreessen Horowitz raises $515M for second blockchain and cryptocurrency fund

01 May Andreessen Horowitz raises $515M for second blockchain and cryptocurrency fund

Posted at 04:13h in Cryptocurrency News by

Silicon Valley venture capital firm Andreessen Horowitz said today it has raised $515 million for a second fund to invest in blockchain and cryptocurrency.

The venture capital firm, founded by Marc Andreessen (pictured) and Ben Horowitz in 2009, has been a prolific and highly successful VC firm since it was established in 2009. Andreessen Horowitz’s investments include Skype Inc., Appito Inc., Airbnb Inc., Lyft Inc., Stripe Inc. and Coinbase Inc., to name a few.

The new fund is focused on investing in blockchain technology. “Payment blockchains are picking up where bitcoin left off, solving for currency volatility and settlement transaction times,” Andreessen Horowitz’s Chris Dixon and Katie Huan said in a statement. “Unlike existing systems where the sender and receiver must have fee-extracting bank infrastructure in place, payment blockchains require no bank account, thereby opening up financial services to the two billion-plus unbanked…

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