Andreessen Horowitz is planning to launch a devoted crypto fund – TechCrunch
The SEC could also be firing off subpoenas to crypto funding funds and ICO initiatives left, proper and middle — apparently over 80 — however that isn’t stopping Andreessen Horowitz, the influential Silicon Valley agency know as A16z, from beginning its personal crypto-based fund.
The rumor has been going round for some time — not an enormous shock for the reason that agency has invested within the likes of Coinbase, Earn.com and CryptoKitties and co-founder Marc Andreessen (pic above) is an enormous crypto advocate — however it now seems there’s real substance to it. Recode noticed a few A16z job vacancies that appear to verify that the wheels are in movement.
One for a ‘Finance and Operations Supervisor, Crypto Property‘ and one other for a ‘Authorized Counsel, Crypto Property‘ explicitly element that the agency is planning “a individually managed fund specializing in crypto property.” The authorized function itself consists of “compliance with acceptable SEC laws,” and specifically “managing the agency’s/fund compliance with all SEC/different laws,” whereas the operations supervisor is tasked with the difficult job of valuing crypto property amongst different duties.
Quite a few conventional VC funds have invested in crypto firms and, in a number of instances, joined preliminary coin choices (ICOs), however there hasn’t been a stampede. The extra prolific crypto buyers have been devoted funds like Pantera Capital, Polychain Capital and Sparkchain Capital. These corporations maintain crypto property — most of which is in Ethereum — so as to speculate and divest in firm tokens and cryptocurrencies as a part of ICOs or simply typically as retail buyers do.
Regardless of the potential for giant positive factors and the flexibility to liquidate an funding at any time, crypto is in a authorized gray space and that has put many U.S. buyers off, even when some have dabbled on the facet by means of private investments. If it goes forward, A16z’s fund would possibly blaze a path for others to observe.
Disclosure: The writer owns a small quantity of cryptocurrency. Sufficient to realize an understanding, not sufficient to vary a life.