Key Takeaways
- • Andreessen Horowitz (a16z) is expanding the scope of its newest crypto fund beyond crypto to "frontier startups," per managing partner Chris Dixon's post on Thursday, with the team now operating as a16z Frontier.
- • General partner Ali Yahya confirmed on X that he is leaving a16z to move to San Francisco and start a company focused on infrastructure for open software ecosystems.
- • a16z closed its fifth crypto fund at $2.2 billion in May, bringing total capital across five crypto funds to $9.8 billion; Dixon did not disclose the new fund's size or how much may go outside crypto.
- • Dixon will share leadership of the fund with general partners Eddy Lazzarin and Guy Wuollet, and co-founders Marc Andreessen and Ben Horowitz.
- • Dixon says the firm will continue investing in crypto and advocate for crypto regulation, while Paradigm announced a $1.2 billion fund in July that also now spans AI and robotics.
Summary
Andreessen Horowitz (a16z) has rebranded its crypto investment team as a16z Frontier and widened the mandate of its newest fund beyond crypto startups. Managing partner Chris Dixon wrote in a post at noon ET Thursday that the firm is "expanding the scope of our new fund beyond crypto startups to the broader category of frontier startups," referring to bets on emerging technologies whose markets may take years to form. The team's former a16zcrypto.com blog address now redirects to a new domain. Dixon described the change as "an expansion" and said the firm "will continue to invest in crypto and related ventures and advocate for sensible crypto regulation."
Dixon argued that blockchains have become less visible as Wall Street firms and fintechs deploy products on them, saying "the label matters less now." He listed target areas including AI, robotics and autonomous machines, biology and medicine, and hybrid software-hardware-services startups, as well as networks where people and intelligent agents transact, where crypto could provide machine-to-machine economic capabilities. Dixon said he will share leadership of the fund with general partners Eddy Lazzarin and Guy Wuollet and co-founders Marc Andreessen and Ben Horowitz.
General partner Ali Yahya announced on X at 7:33 p.m. ET Thursday that he has "decided to leave @a16z, move to SF, and start a company," hours after The Information reported that morning that he had told some investors of his plans. Yahya joined Dixon in 2017 from Google, where he worked on robotics as a Google Brain engineer, and was promoted to general partner in 2021 as the firm's "first full-time member of the crypto team." He said his new company is early-stage and will focus on "building infrastructure that enables open software ecosystems," premised on AI use shifting from one person working with one agent to many people and agents collaborating.
For context, a16z closed its fifth crypto fund at $2.2 billion in May, lifting total capital across its five crypto funds to $9.8 billion. Dixon's post did not disclose a size for the new frontier-focused fund. Separately, Paradigm announced a $1.2 billion fund in July and said it now works "across AI, robotics, and other frontiers."
Dixon argued that blockchains have become less visible as Wall Street firms and fintechs deploy products on them, saying "the label matters less now." He listed target areas including AI, robotics and autonomous machines, biology and medicine, and hybrid software-hardware-services startups, as well as networks where people and intelligent agents transact, where crypto could provide machine-to-machine economic capabilities. Dixon said he will share leadership of the fund with general partners Eddy Lazzarin and Guy Wuollet and co-founders Marc Andreessen and Ben Horowitz.
General partner Ali Yahya announced on X at 7:33 p.m. ET Thursday that he has "decided to leave @a16z, move to SF, and start a company," hours after The Information reported that morning that he had told some investors of his plans. Yahya joined Dixon in 2017 from Google, where he worked on robotics as a Google Brain engineer, and was promoted to general partner in 2021 as the firm's "first full-time member of the crypto team." He said his new company is early-stage and will focus on "building infrastructure that enables open software ecosystems," premised on AI use shifting from one person working with one agent to many people and agents collaborating.
For context, a16z closed its fifth crypto fund at $2.2 billion in May, lifting total capital across its five crypto funds to $9.8 billion. Dixon's post did not disclose a size for the new frontier-focused fund. Separately, Paradigm announced a $1.2 billion fund in July and said it now works "across AI, robotics, and other frontiers."
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