Andreessen Horowitz’s crypto arm is back on the market with a fifth venture fund, even as the digital asset sector navigates a slower investment environment, Fortune reported.
Cryptocurrency A16z aims to raise $2 billion for the fund and hopes to close the process during the first half of 2026, Fortune said, citing unnamed sources.
The venture capital firm declined to comment on the fundraising effort for Fortune, and neither the firm nor its public relations team in London responded to a request for confirmation from CoinDesk before publication.
The target is significantly below the company’s fourth fund, which raised $4.5 billion in 2023 and remains one of the largest crypto venture funds ever created. Still, it’s larger than the $650 million Dragonfly Capital raised last month.
The reported size suggests a more cautious approach to venture capital deployment as crypto markets cool from the highs seen just last year. Dragonfly’s was one of the biggest increases in the sector at a time when many blockchain-focused venture capitalists are struggling, according to Haseeb Qureshi, the company’s managing partner.
Led by general partner Chris Dixon, a16z crypto has been one of the most influential investors in the digital asset sector, backing projects such as decentralized exchange Uniswap, digital asset platform Anchorage Digital, and Jito Network, a core infrastructure protocol. Since its first $300 million crypto fund in 2018, the company has played an important role in bringing institutional venture capital to blockchain startups.
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