Andreessen Horowitz renames its crypto unit a16z Frontier
US venture capital firm Andreessen Horowitz has renamed its digital asset unit from a16z Crypto to a16z Frontier, broadening its focus to emerging technologies. The team is not abandoning crypto, but will also target AI and robotics.
Andreessen Horowitz, a US venture capital firm, announced on Thursday, October 22, that its crypto and blockchain investment unit, a16z Crypto, will now be called a16z Frontier. The change signals that this type of investing has lost some of its prominence, as the team widens its remit to cover other emerging technologies.
The unit is led by Chris Dixon. Since launching in 2018, it has raised nearly $10 billion across five funds. Its backing of Coinbase, a crypto exchange operator, is cited as one of the sector's biggest successes.
A broader mandate
Under the new name, the team will concentrate on emerging technologies, including artificial intelligence, robotics and "new kinds of networks" linking humans and machines. The source notes that a16z and rival venture firms have spent years trying to extend crypto's usefulness beyond financial infrastructure, trading applications and speculative assets, with limited success.
Crypto is not being dropped. In a blog post, Dixon wrote that blockchain technology could "give new networks native economic capabilities."
Team changes
Alongside Dixon, the general partners of a16z Frontier are Eddy Lazzarin and Guy Wuollet. Meanwhile, Ali Yahya, who joined the crypto strategy in 2017 as its first investor, has left the firm, according to The Information.
