Andreessen Horowitz, an investment firm that is based in Silicon Valley, has become the first venture capital firm to put together a large amount for the purpose of investing in cryptocurrencies. This firm has made known the kick-start of a $300 million fund that is set aside for investing in firms that are into cryptocurrency. According to General Partner Chris Dixon, Andreessen Horowitz has been investing in cryptocurrencies for over five years and is hoping that the $300 million that was raised will be put into crypto investments over a 10-year period. These are his words “Our fund is designed to include the best features of traditional venture capital, updated to the modern crypto world”
About Andreessen Horowitz
Andreessen Horowitz was established in 2009 by Marc Andreessen and Ben Horowitz. It is a private United States based venture capital firm and has its headquarters in Menlo Park, California. This venture capital firm was established with a capitalization of $300 million. Shortly after, it went on to put together a whopping sum of $650 million.
As a result of its networks as well as its rate of association with other venture firms, Andreessen Horowitz was rated as the number 1 venture capital firm by Investor Rank.
Raised Funds will be managed by Katie Haun
Whilst Andreessen Horowitz has made it known that it has raised the sum of $300 million for the sole purpose of investing in cryptocurrency, it was not the only information that was released to the public. This venture capital firm also made it public that a one-time prosecutor at the Department of Justice, Katie Haun will be in charge of the management of the raised fund. As a result of this new appointment, Katie Huan will be the firm’s premier female General Partner.
Although it is still not clear why Katie Haun was chosen to manage this very sensitive position, it is believed that some of her past achievements play a role in this new appointment. Some of Haun’s past achievements include serving as a leader of some of the biggest enforcement exploits in the cryptocurrency sector in the United States. Prominent among them is also the investigation of Mt. Gox, a Bitcoin exchange by the Justice Department.
In the past, Haun has testified before Congress and has been clerk for the United States Supreme Court. As a result of this, it is believed by General Partner Ben Horowitz that she has what it takes to effectively manage a fund of $300 million that was raised for massive investment in cryptocurrency.