Andreessen Horowitz Renames Its Crypto Arm a16z Frontier
The unit, which has gathered close to $10 billion over five funds since 2018, will now also invest in AI, robotics and new network types.
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Andreessen Horowitz said on October 22 that its digital asset investing group will operate under the name a16z Frontier, dropping the a16z Crypto label, TechCrunch reported.
The unit, led by Chris Dixon, started in 2018 and has collected close to $10 billion through five funds, with Coinbase among its best-known investments. TechCrunch said the change reflects a cooling of investor enthusiasm for crypto and blockchain, and that venture firms have had limited success extending the technology beyond trading, payments rails and speculative assets.
The renamed practice will invest more broadly in emerging technology, including artificial intelligence, robotics and new types of networks linking people and machines. Dixon wrote in a blog post that blockchains can still give such networks "native economic capabilities," signaling the group is not walking away from the sector.
General partners at a16z Frontier include Dixon, Eddy Lazzarin and Guy Wuollet. Ali Yahya, hired in 2017 as the first investor on the crypto team, has departed Andreessen Horowitz, according to The Information.
This story was first reported by TechCrunch.
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