A16z Crypto Fund Has a 40% Loss in First Half

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rypto investments by Andreessen Horowitz have significantly decreased, from 26 in the fourth quarter of last year to only 9 this past third quarter.

Andreessen Horowitz's crypto fund, known as a16z, has lost more than 40% of its value this first half year, as reported by the Wall Street Journal.

The firm's fourth crypto fund, raised in May, was its largest yet at $4.5 billion. To date, the firm has raised a total of $7.6 billion across all its funds.

Compared to last year, Andreessen Horowitz has invested less in crypto currencies this year. Interestingly, they only made nine investments in the third quarter; Pitchbook reported a total of 26 deals during the fourth quarter for last year.

Chris Dixon, founder of a16z's crypto arm, told the Wall Street Journal that he is not worried by the fall in crypto prices.

“What I look at is not prices. I look at the entrepreneur and developer activity,” he said.

Jonathan

An editor at Coincrop

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Jonathan is a Coincrop staff writer based in the UK, covering the best rates for cryptocurrency earning and borrowing products. When not at work, he's likely sailing.