Andreessen Horowitz announced on Tuesday that it has successfully raised $2.2 billion for its fifth crypto fund, increasing the firm’s total cryptocurrency capital under management to nearly $9.8 billion.
The company’s a16z Crypto division has previously invested in major industry players such as Coinbase, Kalshi, Solana, and Uniswap. With this new funding, the venture capital leader is poised to invest further into crypto infrastructure and products.
“A burgeoning financial system that operates around the clock, settles transactions nearly instantaneously, incurs minimal costs, and is accessible to anyone online is emerging,” stated Andreessen Horowitz in a blog post. “The founders we are investing in with this $2.2 billion fund focus on creating enduring value by transforming infrastructure into daily-use products, an area that often receives less attention.”
In the announcement, the firm highlighted positive trends within the crypto industry, such as increasing demand for prediction markets and perpetual futures, particularly noting the steady rise of stablecoins.
“While trading volumes fluctuate with market conditions, stablecoin usage has consistently increased, even during downturns,” noted the firm. “Individuals use them to save, transfer funds internationally, and make payments, often revealing how slow and costly traditional alternatives are. This growth resembles network adoption due to practical utility rather than speculation about price movements.”
The latest fund is equivalent in size to a16z’s third crypto fund raised in 2021 but does not reach the $4.5 billion mark of its fourth fund from 2022. Since its initial $350 million fund in 2018, followed by $515 million in 2020, Andreessen Horowitz’s cryptocurrency investment vehicles have expanded significantly.
Other prominent crypto-focused venture firms have also closed substantial funds recently. Haun Ventures announced the closure of a $1 billion second fund this week to support startups at the intersection of crypto infrastructure and the AI agentic economy, while Dragonfly concluded a $650 million fourth fund earlier in the year.
The crypto market began 2026 on a low note after leading assets like Bitcoin and Ethereum reached new all-time highs the previous year amid regulatory progress following President Donald Trump’s election. Bitcoin fell approximately 50% from its October peak above $126,000 earlier this year but has been gradually recovering, surging above $81,000 on Tuesday for the first time since January. Despite signs of recovery, several crypto firms have announced layoffs recently, including Coinbase which reduced its workforce by 14% on Tuesday.