In short
Andreessen Horowitz raised $2.2 billion for Crypto Fund 5, bringing its whole crypto funding autos to $9.8 billion.
The fund is smaller than a16z’s document $4.5 billion fourth fund raised in 2022 however matches its 2021 fund dimension.
The agency has backed quite a few crypto giants, together with Coinbase, Solana, and Kalshi.
Andreessen Horowitz stated Tuesday that it has raised $2.2 billion for its fifth crypto fund, bringing the agency’s whole crypto capital beneath administration to almost $9.8 billion.
The agency’s a16z Crypto arm has backed a number of the business’s greatest firms, together with crypto alternate Coinbase, prediction market large Kalshi, blockchain community Solana, and decentralized alternate Uniswap. Now the enterprise capital large has contemporary billions to pour into crypto infrastructure and merchandise.
“A brand new monetary system is taking form that runs constantly, settles practically immediately, prices virtually nothing, and is open to anybody with web entry,” the agency said in a weblog put up. “The founders we’re backing with this $2.2 billion fund are engaged on the a part of the cycle that will get much less consideration and produces extra of the lasting worth: turning new infrastructure into merchandise folks use daily.”
Within the put up, Andreessen Horowitz pointed to what it sees as constructive tendencies within the crypto business, together with demand for prediction markets and perpetual futures, and particularly the continuous rise of stablecoins.
“Buying and selling volumes go up and down with the market, however stablecoin utilization has stored climbing even by downturns,” the agency wrote. “Individuals are utilizing them to save lots of, to ship cash throughout borders, and to pay for issues, typically exposing simply how sluggish, costly, and unreliable the alternate options are. Their progress seems much less like hypothesis and extra like community adoption: utilization compounds as a result of the expertise is helpful, not due to expectations about value motion.”
The most recent fund matches the dimensions of a16z’s third crypto fund raised in 2021 however falls wanting its fourth fund’s document $4.5 billion raised in 2022. The agency’s crypto funding autos have grown considerably since its first $350 million fund in 2018, adopted by a $515 million fund in 2020.
Different main crypto-focused enterprise corporations have additionally lately closed vital funds. Haun Ventures raised a $1 billion second fund this week to again startups on the intersection of crypto infrastructure and the AI agentic financial system. Dragonfly additionally closed a $650 million fourth fund earlier this yr.
The crypto market began 2026 on a down notice, after main belongings like Bitcoin and Ethereum hit new all-time excessive costs final yr amid regulatory momentum following the election of President Donald Trump.
Bitcoin fell about 50% earlier this yr from its October peak above $126,000, however has been progressively mounting a comeback, rising above $81,000 on Tuesday for the primary time since January. Regardless of the rising restoration, quite a few crypto corporations have revealed layoffs in latest months—together with Coinbase on Tuesday, chopping 14% of its employees.
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