American investment company Andreessen Horowitz is launching a fund of $300 million focused on working with digital assets, CoinDesk reports.
The fund is called “a16z”, and it will specialize in long-term investment in crypto currencies and blockchain projects.
“We have been investing in crypto actives for more than five years,” said Chris Dickson, General Partner of Andreessen Horowitz. “We structured the a16z in a way to keep our investments for more than 10 years.”
He also noted that the company will engage in long-term investment consistently, regardless of market conditions. The Fund will focus on projects that offer viable solutions for the long term, rather than on “speculative use cases.”
It is also worth noting that a former US federal prosecutor Catherine Hawn will take the position of the fund manager.