Andreessen Horowitz raises $4.5 billion for fourth crypto fund
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FILE PHOTO: Ben Horowitz, co-founder and General Partner, Andreessen Horowitz speaks at the WSJTECH live conference in Laguna Beach, California, U.S. October 22, 2019. REUTERS/ Mike Blake
(Reuters) -Venture capital giant Andreessen Horowitz said on Wednesday it has raised $4.5 billion for its fourth cryptocurrency fund, bringing its total funds raised for digital currency investments so far to more than $7.6 billion.
About $1.3 billion from the fund will be used to invest in seed rounds of startups and $3 billion for venture investments, the company said in a .
The latest funding comes on the heels of sharp fall in the value of cryptocurrencies in recent weeks, with bitcoin losing over a third of its value in just two months.
Andreessen Horowitz unveiled a $2.2 billion fund to invest in crypto networks in June last year. The firm raised $9 billion across three new funds to invest across startups in different sectors earlier this year.
(Reporting by Sohini Podder in Bengaluru; Editing by Shounak Dasgupta)
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