Summary
- a16z said it will drop Crypto from the name of its flagship cryptocurrency fund, a16z Crypto, and rename it a16z Frontier.
- The firm said the move is intended to expand the fund’s investment scope beyond cryptocurrencies into a range of advanced technologies.
- a16z Crypto said it has raised $10 billion through five funds to date.
Forecast Trend Report by Period
Andreessen Horowitz, the global venture capital firm known as a16z, is moving to drop “Crypto” from the name of its flagship digital-asset fund.
The Information, a U.S. technology news outlet, reported on October 22 that a16z recently decided to rename “a16z Crypto” as “a16z Frontier.” The move is intended to expand the fund’s investment focus beyond cryptocurrencies into a broader range of advanced technologies.
Ali Yahya, a general partner and founding member of a16z Crypto, is also leaving the firm. He is planning to launch his own startup.
a16z Crypto has raised $10 billion across five funds to date.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul