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As blockchain investing falls out of vogue, a16z Crypto rebrands as a16z Frontier
In a sign that crypto and blockchain-focused investing has receded in importance, Andreessen Horowitz announced Thursday that it is renaming its digital asset unit from a16z Crypto to a16z Frontier.
The practice, helmed by Chris Dixon, has raised nearly $10 billion across five funds since launching in 2018, backing some of the sectorâÂÂs biggest wins, including Coinbase. Yet for years, a16z and rival venture firms struggled to push cryptoâÂÂs utility beyond financial rails, trading applications, and speculative assets.
Under the new name, the team is broadening its mandate to focus on emerging technologies, be it AI, robotics, or âÂÂnew kinds of networksâ connecting humans and machines. Yet, the group isnâÂÂt abandoning crypto. Dixon wrote in a blog post that blockchain technology could âÂÂgive new networks native economic capabilities.âÂÂ
Alongside Dixon, a16z FrontierâÂÂs general partners include Eddy Lazzarin and Guy Wuollet. Meanwhile, Ali Yahya, who joined the crypto strategy as its first investor in 2017, has left the firm, according to The Information.
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