Top venture capital firm Andreessen Horowitz is expanding its presence in the crypto sector. The Us-based company has raised $515 million for its second crypto-focused fund, according to an Apr 14 article on Fortune.

Earlier reports suggested that Andreessen Horowitz, also chosen a16z, was hoping to accumulate $450 million in uppercase for the new vehicle, meaning that the house has surpassed the initial goal by $65 million.

The new fund will focus on blockchain startups

Similarly to Andreessen Horowitz'due south first crypto-oriented fund, which raised $300 1000000 in 2022, the new endeavor will reportedly focus on blockchain projects, although the Fortune study does non mention startups working with digital assets.

Chris Dixon, general partner at the venture capital juggernaut, said of blockchain:

"Information technology's very rare that major, new computing paradigms come along, and we think this is on the calibration of deject and mobile for the Cyberspace."

Dixon added that he expects to see many new blockchains existence launched in 2022. That includes Dfinity, a blockchain-based cloud computing project that a16z has already backed via its first crypto fund.

Andreessen Horowitz'southward previous crypto investments and projects

Being one of the first venture capital firms to enter the infinite, Andreessen Horowitz has invested in a variety of crypto projects so far, including Libra, Maker DAO (MKR), and Coinbase, among others.

The visitor's involvement with the crypto manufacture isn't limited to investments. In Dec 2022, a16z announced a free, seven-week crypto startup school, scheduled to launch in February 2022, although there has been no update on that since.

Cointelegraph has reached out to Andreessen Horowitz for boosted details, simply has notwithstanding to hear back from the business firm. This story will exist updated should we receive a response.