Might 25 (Reuters) – Enterprise capital big Andreessen Horowitz stated on Wednesday it has raised $4.5 billion for its fourth cryptocurrency fund, bringing its whole funds raised for digital foreign money investments to date to greater than $7.6 billion.
About $1.3 billion from the fund will probably be used to spend money on seed rounds of startups and $3 billion for enterprise investments, the corporate stated in a blog post.
The most recent funding comes on the heels of sharp fall within the worth of cryptocurrencies in latest weeks, with bitcoin shedding over a 3rd of its worth in simply two months. learn extra
Andreessen Horowitz unveiled a $2.2 billion fund to spend money on crypto networks in June final yr. The agency raised $9 billion throughout three new funds to speculate throughout startups in numerous sectors earlier this yr. learn extra
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Reporting by Sohini Podder in Bengaluru; Modifying by Shounak Dasgupta
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