Overview
- A16z Crypto, which unveiled the vehicle Tuesday, closed a $2.2 billion fifth fund that will invest across stages over the next decade with a mandate limited to crypto.
- Stablecoins, which are tokens pegged to a currency like the U.S. dollar, anchor the strategy as the firm cites rising use for cross-border payments and saving even during downturns.
- The fund also targets perpetual futures, on-chain lending, prediction markets, tokenized real-world assets, and AI agents as infrastructure use cases that aim to move crypto from speculation to everyday products.
- The firm promoted its CTO, Eddy Lazzarin, to general partner, joining Chris Dixon and other partners on the fund’s leadership team.
- The vehicle is smaller than a16z’s $4.5 billion 2022 fund and lifts its dedicated crypto capital to about $9.8 billion, as peers like Haun Ventures and Dragonfly raise new pools and some rivals branch into AI.