Andreessen Horowitz, a leading Silicon Valley-based venture capital firm, is planning to launch a separate fund dedicated to buying and selling cryptocurrencies, according to two job postings on the firm’s website.
The job postings, originally noticed by Recode, expressly detail that the firm is planning to launch “a separately managed fund focusing on crypto assets.” A16z is looking to add a “Finance and Operations Manager, Crypto Assets” and “Legal Counsel, Crypto Assets” to its Menlo Park office, and the job details offer some insight into what the VC firm has planned for its crypto trading fund.
Although the postings don’t hint at the potential size of an a16z crypto fund, they do indicate the fund will likely manage money from institutional clients, as the finance and operations manager is responsible for managing these transactions. Meanwhile, the legal counsel’s main responsibility is “managing the firm’s/fund compliance with all SEC/other regulations.”
Andreessen Horowitz, one of the most successful Silicon Valley venture funds, is planning to launch a separate fund for crypto investments.
The institutional capital is coming fast. Buckle up ?
— Pomp ? (@APompliano) April 24, 2018
The move into crypto assets for Andreessen Horowitz is not wholly unexpected based on their recent flurry of activity in the blockchain space. The firm’s portfolio currently boasts a number of investments in crypto companies, including Coinbase, Earn.com and CryptoKitties.