Andreessen Horowitz (a16z) is reportedly targeting a $2 billion fundraising round for its fifth crypto-focused fund, according to Fortune . The company aims to complete the Capital by the end of Q1 2026.
a16z has been a prominent investor in the crypto sector since at least 2013, when they Capital in Coinbase. By 2018, they had established the first dedicated crypto fund with $300 million in committed Capital .
To date, a16z has raised at least $7.6 billion in its own crypto funds, including a massive $4.5 billion Capital round in 2022.
The 2022 fund, “Crypto Fund 4”, was Chia into $1.5 billion for the seed stage and $3 billion for venture investments.
This move comes as the crypto investment cycle is slowing down significantly compared to its 2022 peak. That year, the market raised over $86 billion through 329 funds, while in 2023 it was only $11.2 billion and in 2024 it was $7.95 billion.
The number of deals per quarter also decreased sharply. As of Q1 2026, only a total of 97 venture investments had been recorded, significantly lower than the 427 in the same period of the previous year and the 724 in Q1 2024.
Earlier in January, a16z announced it had raised $15 billion for various new funds, equivalent to “more than 18% of the total VC Capital allocated in the US in 2025.” This package includes $1.176 billion for the “American Dynamism” investment thesis, along with funds targeting biotechnology & healthcare, infrastructure, and other venture capital strategies.
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