Andreessen Horowitz Raises $7.2B

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Bloomberg reports that Andreessen Horowitz (a16z), a venture capital firm favorable towards cryptocurrencies, has raised $7.2 billion in funding.

Company co-founder Ben Horowitz expressed excitement towards the achievement, which exceeded their target by 4%. The raised funds will be allocated towards startups that align with the company’s “national interests”, projects in later stages of development, and gaming platforms.

Andreessen Horowitz also intends to raise more funds in 2025 for cryptocurrency and biotechnology-related projects.

The company had previously outlined AI and blockchain integration and the potential resurgence of NFTs as key areas of focus for development by 2024.