Technology-focused venture capital firm Andreessen “a16z” Horowitz said it has raised more than $15 billion to invest in companies and technologies it believes are critical to securing America’s future and winning in the next century. And cryptocurrencies remain an important part of that mission.
In a post on X Friday, a16z co-founder Ben Horowitz acknowledged that China and other competitors have caught up with the United States in recent decades, and that the United States must continue to innovate to maintain its technological, economic, and military advantage.
“As America’s leader in venture capital, part of the fate of new technology in America rests on our shoulders. Our mission is to ensure America wins in technology for the next 100 years. That starts with winning the key architectures of the future: AI and cryptography.”
sauce: a16z
Horowitz said collaboration between the U.S. government and the private sector is critical to protecting U.S. interests, and warned that failure could result in a loss of U.S. advantage.
“If America doesn’t win technologically, it will lose economically, militarily, geopolitically, and culturally. And so will the rest of the world.”
“We’re already seeing the beginnings of that with both AI and cryptocurrencies,” Horowitz said, warning that swift action is needed to reverse the trend before it’s too late.
A16z crypto fund has been removed, but you can still invest in cryptocurrencies
The funds will be distributed across several areas, including Growth ($6.75 billion), Apps and Infrastructure ($1.7 billion each), American Dynamism Fund ($1.18 billion), and Bio and Healthcare ($700 million).
Another $3 billion will be used for other venture strategies.
Although the a16z crypto fund did not receive any funding in this round, many of the crypto companies it has invested in are part of growth funds that span multiple industries.
Babylon secures $15 million from A16Z
In a separate investment, a16z on Wednesday put $15 million into Babylon, Bitcoin’s staking and lending protocol, in an effort to support the development of Bitcoin’s decentralized financial ecosystem and make the cryptocurrency a more productive asset.