Andreessen Horowitz unveils $2.2 billion crypto fund

Andreessen Horowitz is launching a new $2.2 billion fund to invest more money in crypto networks, venture capital giant said in a blog post on Thursday.

The move follows a string of media reports in April that the firm, which been investing in crypto assets since 2013, was looking to raise as much as $1 billion to invest in cryptocurrencies and crypto startups.

“We believe that the next wave of computing innovation will be driven by crypto,” the firm said, adding it will invest in all stages, from early seed-stage projects to fully developed later-stage networks.