a16z raises $7.2B for venture strategies, pushes for AI and Web3 gaming

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Andreessen Horowitz (a16z) has raised $7.2 billion for five of its venture strategies, as disclosed by Ben Horowitz in a blog post. The funds were raised for American Dynamism, Games, Apps, Infrastructure, and Growth, with the largest raise being $3.75 billion for the Growth strategy.

Notably, Games and American Dynamism were allocated $600 million each. While the specific allocation of the freshly raised funds remains unclear, a16z’s Games venture has previously expressed interest in Web3 gaming.

According to statements from the venture’s website, a16z is committed to the idea that games are driving innovation across the consumer ecosystem, opening new opportunities for “user engagement, retention, and monetization” as seen through “microtransactions, battle passes and Web3 tokens.”

Although crypto was not among the firm’s initial moves, a report from Bloomberg indicates that the firm is “still on track to raise additional funds” by 2025. This aligns with a report from October 2023, which speculated that the venture capital firm was eyeing $3.4 billion for some of its funds and that new investing vehicles could come in 2025.

“This marks an important milestone for us,” Horowitz shared in the recent blog post.

A16z has been actively investing and leading rounds in the crypto industry. In late March, the firm announced that it had selected 25 start-ups for its spring 2024 crypto startup accelerator, offering each firm a $500,000 investment in exchange for 7% equity.

Outside of its accelerator, a16z has continued to support crypto projects. The venture capital firm recently led a Series B funding round for Espresso Systems, a rollup-focused Ethereum infrastructure project.

Commenting on the firm’s support for Espresso Systems, a16z general partner Ali Yahya said:

“At its core, crypto is a technology movement that builds tools for better human cooperation at a larger scale — especially when the cooperating parties mutually distrust one another.”

Earlier in February, the venture capital firm also made a $100 million investmen for EigenLayer’s Series B funding round.

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