Business · Companies · 3 hrs ago

Andreessen Horowitz renames crypto unit a16z Frontier

Andreessen Horowitz renames crypto unit a16z Frontier

Andreessen Horowitz has renamed its digital asset unit a16z Frontier.

The team, led by Chris Dixon, has raised nearly $10 billion across five funds since launching in 2018 and backed companies including Coinbase.

The change reflects crypto’s reduced prominence in the firm’s investment strategy.

For years, the sector struggled to show uses beyond finance, trading and speculative assets.

The unit will now also explore AI, robotics and new kinds of networks.

Dixon says blockchain could still give those networks built-in economic capabilities.

The team is broadening its focus, not abandoning crypto.

1 source

Related

What people are saying

Chris DixonHead of a16z Frontier
give new networks native economic capabilities.
via TechCrunch