Andreessen Horowitz (a16z) is dropping the word "crypto" from the name of its flagship blockchain fund. The Information reported that the venture firm, which made one of the boldest bets on b
Andreessen Horowitz (a16z) is dropping the word "crypto" from the name of its flagship blockchain fund. The Information reported that the venture firm, which made one of the boldest bets on blockchain in the venture world, has informed some of its limited partners of the change.
The vehicle, known as a16z crypto, has raised nearly $10 billion across five funds, according to The Information. The firm is run by Marc Andreessen and Ben Horowitz, with Chris Dixon leading the crypto arm.
According to The Information, the fund will shift its focus to other investment areas, and its first founding member is leaving. Bloomingbit, citing the same report, said the fund will be renamed a16z Frontier and that general partner Ali Yahya is departing to start his own company. Techmeme's summary of the report also points to the a16z Frontier name and a broader strategy beyond crypto.
The reported new areas include enterprise computing, physical-world asset distribution and financial infrastructure for machines. It is not yet clear how the change will affect the firm's existing crypto investment business, according to a Chinese-language summary of the report from Wublock123.
Not everyone reads the move as an exit. ChainCatcher's analysis said the change signals a broader mandate rather than a withdrawal from the sector. It noted that Chris Dixon remains in his role and that crypto assets and blockchain remain a core focus under the wider label.
The renaming follows a fifth crypto fund that was smaller than its predecessor. a16z crypto said it raised $2.2 billion for Crypto Fund 5, aimed at turning new infrastructure into products people use every day, including payments and financial services. Wublock123 reported that this was roughly half the $4.5 billion raised for the fourth fund in 2022.
The firm has also been spreading capital into other areas. In August, a16z closed a $1.1 billion Machine Age Fund targeting AI hardware, including chips, networking, data centers and robotics, according to Crypto Briefing.
For the crypto industry, the rebrand is a signal on how one of its largest venture backers is positioning itself. Whether it marks a retreat or a widening of scope will depend on where the firm deploys capital from the renamed fund.
The Information: Andreessen Horowitz to Drop 'Crypto' From Name of Flagship Blockchain Fund
