a16z crypto raises $2.2B fund as crypto market cools down
Original: As crypto cools, a16z crypto raises a $2.2B fund
Why This Matters
Major crypto VC maintains commitment despite market downturn and AI competition
Andreessen Horowitz's crypto division announced a $2.2 billion fifth fund, bringing total raised to $9.8 billion. The timing comes as crypto trading volumes hit lows and Coinbase laid off 14% of workforce on same day.
a16z crypto raised $2.2 billion for its fifth fund despite cooling crypto markets. The fund promoted CTO Eddy Lazzarin to general partner, joining Chris Dixon, Ali Yahya, and Guy Wuollet. March saw the slowest crypto trading volumes since November 2023, while Q1 2026 VC investment dropped to $5 billion from $6 billion year-over-year. The firm has backed Coinbase, Kalshi, and Solana Foundation. Partners acknowledge the quiet period but argue downturn-built projects are often more useful and durable. Competitor Paradigm is reportedly raising $1.5 billion for AI/robotics expansion, while former a16z investor Katie Haun raised $1 billion focusing on crypto-AI intersections. a16z crypto promises 100% dedication to crypto entrepreneurs.