Earlier today, Silicon Valley-based venture capital firm Andreessen Horowitz (a16z) announced it raised $4.5 billion for a new cryptocurrency fund.

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Of the $4.5 billion raised for “Crypto Fund 4”, $1.5 billion will be used for seed investments, while the remaining $3 billion will be dedicated to venture investments. This brings a16z’s total Web3 funds raised to over $7.6B.

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“We think we are now entering the golden era of web3. Programmable blockchains are sufficiently advanced, and a diverse range of apps have reached tens of millions of users,” a16z partner Chris Dixon wrote in a post.

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“More importantly, a massive wave of world-class talent has entered Web3 over the last year. They are brilliant and passionate and want to build a better internet,” he added.

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According to Dixon, a16z is specifically “excited” about developments in Web3 games DeFi, decentralized social media, self-sovereign identity, layer 1 and layer 2 infrastructure, bridges, DAOs & governance, NFT communities, privacy, creator monetization, regenerative finance, new applications of ZK proofs, decentralized content & story creation, and many other areas. 

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