Značka: Andreessen Horowitz

Andreessen Horowitz aims to raise $4.5 billion to invest in crypto funds

A16z, a VC company with investments in Protocol Labs, Polychain Capital and Opensea among others, is now planning to raise $4.5 billion for its latest fund which is focused solely on cryptocurrencies, according to a report by U.K newspaper Financial Times.Last week, Andreessen Horowitz’ venture capital firm reportedly said it would raise $3.5 billion for its VC fund, as well as another $1 billion for web3 seed investments, with the plans to be announced in March. The firm is ready to eclipse the $2.2 billion it raised in June 2021, which was at the time the crypto industry’s largest.The first fund will be used for investment in crypto start-ups and projects that are seeking investment for initiatives, while the second fund will be focused on investing in digital tokens and currencies.Andreessen Horowitz, with almost $30 billion in assets under management, is one of Silicon Valley’s top venture capital companies. The venture fund was one of the first major investors in companies like Skype, Facebook, Twitter, and Coinbase. If a16z is successful in attracting investors to raise $4.5 billion, it would become the industry’s largest, surpassing Paradigm’s $2.5 billion in Nov. 2021.Related: OpenSea raises $300M for encrypted digital marketplaceA16z has backed a number of crypto-friendly gaming platforms, most recently Carry1st, which is the firm’s first investment in a startup on the African continent. In Oct. 2021, a high-powered delegation from the VC firm engaged with members of Congress and administration officials in the U.S to discuss crypto rules.

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a16z, Google lead $20M investment in Africa Web3 game publisher Carry1st

Web3 and social games publisher Carry1st has raised $20 million in Series A funding to further expand product development in Africa — a continent that could become the premier hub for the gaming industry over the next decade. The investment round was led by Silicon Valley venture firm Andreessen Horowitz, which has been highly active in the blockchain space, with additional participation from Avenir and Google-parent Alphabet. Carry1st’s existing backers, including Riot Games, Konvoy Ventures, Raine Ventures and TTV Capital, also participated in the investment round. The cash injection will be used by Carry1st to expand its content portfolio, grow its in-house development team and spearhead a new growth strategy to attract tens of millions of new users. A key pillar of its growth strategy is developing infrastructure to support play-to-earn gaming, which allows users to monetize their gaming experience. Alphabet’s investment in Carry1st is part of its Africa digital transformation initiative, which was announced in October 2021 by CEO Sundar Pichai. At the time, Pichai identified Africa as a major growth driver for the digital economy with an estimated 300 million people expected to come online over the next five years. If existing trends are any indication, many of those new users will be gamers. As a leading publisher of social games in Africa, Carry1st appears to be in a unique position to capitalize on this potential. In addition to providing a full-stack publishing platform, the company develops games with embedded payments solutions and online marketplaces to support monetization. The company has publishing deals with several developer studios, including Tilting Point, the publisher of Nickelodeon’s SpongeBob: Krusty Cook-Off and Sweden’s Raketspel. Africa is quickly asserting itself as one of the biggest consumer markets for peer-to-peer payments and decentralized networks. Several major economies in the region, including Nigeria, have embraced Bitcoin (BTC) for payments and remittances. Blockchain analytics firm Chainalysis estimates that the continent’s crypto market grew 1,200% between 2020 and 2021. The gaming industry is expected to grow exponentially over the next 10 years, creating new opportunities for Web3 and play-to-earn business models. Related: Binance sponsors AFCON to further develop crypto adoption in AfricaAccording to research from Newzoo and Cary1st, the number of gamers in Sub-Saharan Africa is set to grow 275% over the next decade.

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KKR leads $350M raise for crypto custody bank Anchorage Digital

Major cryptocurrency custody bank Anchorage Digital has closed a fresh funding round, bringing its valuation to over $3 billion.Anchorage Digital announced Dec. 15 that it raised $350 million in a series D round led by equity investment giant KKR.According to the announcement, this is the first time for KKR to directly invest in equity in a company in the crypto industry. The company invested through its Next Generation Technology Growth Fund II, which is dedicated to developing equity investment in the technology space.“As a pioneer in enabling institutional investors to access digital assets, Anchorage has built a best in class, institutional-grade digital asset platform that combines the best practices of both modern security and usability,” KKR’s senior leader of technology growth equity team, Ben Pederson, said.The new raise also included a wide number of investors both in traditional finance and the cryptocurrency industry, including companies like Goldman Sachs investment bank and Sam Bankman-Fried’s crypto firm Alameda Research. Other investors include venture capital firm Andreessen Horowitz, BlackRock, Blockchain Capital, Delta Blockchain Fund, PayPal and Kraken.The new funding will help Anchorage Digital further expand its infrastructure and product offerings as well as continue growing its headcount, which has already increased by 175% in 2021.Related: Celsius expands funding round to $750M, tips $7B to $10B valuation in 2022“This funding positions Anchorage Digital to meet the unprecedented institutional demand for this rapidly evolving market,” Anchorage Digital co-founder and president Diogo Monica said.Anchorage became the first crypto firm to receive a charter from the United States national bank regulator, the Office of the Comptroller of the Currency, in January 2021. The firm subsequently raised $80 million in a series C round led by Singapore’s sovereign wealth fund GIC.

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