The largest player in the crypto venture world is back on the fundraising circuit. The blockchain arm of Andreessen Horowitz, also known as a16z crypto, is currently raising its fifth fund, according to multiple sources, who spoke with Fortune on the condition of anonymity to discuss confidential business operations. The firm is targeting around $2 billion, said one of the sources, and plans to close the raise by the end of the first half of 2026.
A16z crypto has backed a number of winners, including the crypto financial services firm Anchorage, the prediction market Kalshi, and the decentralized exchange Uniswap. Still, other investors in digital assets have scrutinized the philosophy espoused by Dixon, summarized by his 2024 book Read Write Own. Dixon has been a champion of the “Web3” approach to crypto, arguing that blockchains can create decentralized versions of internet applications and plumbing, from social media platforms to lending protocols.
A16z crypto’s fifth fund will fully focus on blockchain investments, a source familiar with the raise told Fortune.
