A16z’s Crypto Fund Dropped 40% In The First Half Of 2022

The flagship crypto fund of venture capital company Andreessen Horowitz, commonly known as a16z, has dropped by more than 40% in the first half of this year, according to the Wall Street Journal, citing people familiar with the situation.

A16z has invested over $7.6 billion in crypto and Web3 startups through four funds, the most recent of which was created in May.

The new fund was established during a cryptocurrency market decline, with the main assets, such as Bitcoin (BTC) and Ether (ETH), losing more than 70% of their value since the fourth quarter of 2021. Speculative assets centered on decentralized finance (DeFi) and Web3 have been hammered even harder, with some falling 90% in less than a year.

Chris Dixon, the creator of a16z’s crypto unit, told the Wall Street Journal that he is unconcerned about the recent drop in cryptocurrency prices. He stated:

“What I look at is not prices. I look at the entrepreneur and developer activity.”

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