Overview
- a16z Crypto, which announced the raise Tuesday, closed $2.2 billion for its fifth fund, bringing dedicated crypto capital to about $9.8 billion and promoting CTO Eddy Lazzarin to general partner.
- The firm says it will invest over the next decade at all stages in real-world uses such as stablecoins for payments, perpetual futures venues, on-chain lending, prediction markets, tokenized assets, and infrastructure for AI agents.
- A spokesperson said Fund 5 is 100% dedicated to crypto entrepreneurs, rejecting an expansion into AI or robotics despite a broader venture shift toward those areas.
- The vehicle is roughly half the size of a16z’s $4.5 billion 2022 fund and arrives as peers including Haun Ventures and Dragonfly have secured $1 billion and $650 million for new crypto-focused funds.
- a16z points to a friendlier U.S. landscape after the 2025 GENIUS Act stablecoin law, a change that could speed adoption of dollar-token payments and tokenized assets built on public blockchains.