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Andreessen Horowitz Announces $30 Million Investment in Crypto Startups

Andreessen Horowitz Announces $30 Million Investment in Crypto Startups

On Monday, prominent venture capital firm Andreessen Horowitz unveiled plans to allocate $30 million across multiple startups.

“I’m committing $30 million over the next 45 days via the a16z Speedrun program,” stated a16z General Partner Andrew Chen on X. “Each startup that joins the Speedrun program will receive $750,000 investment, along with guidance and exposure to top-tier investors/mentors.”

Chen oversees the firm’s Game Fund One, a $600 million fund established nearly two years ago. While Game Fund One primarily focuses on gaming-related technologies like AI, VR, AR, it also supports Web3 startups.

Game Fund One boasts founders from leading tech and gaming companies such as Roblox, Discord, Riot Games, and Sky Mavis, co-founded by Aleks Larsen and Jeffrey Zirlin. Sky Mavis is renowned for creating “Axie Infinity,” the first blockchain game to gain significant traction.

Chen previously outlined the fund’s emphasis on studios, Web3, and infrastructure in its initial year, with a shift towards AI in the second year, as per his LinkedIn post from last year.

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In addition to Game Fund One, a16z’s crypto division has invested in blockchain-based gaming firms like Mythical Games and Voldex.

The Speedrun initiative, described as an “early-stage accelerator for startups at the intersection,” provides a rigorous 12-week program with a highly selective acceptance rate of ~1% of applicants. Participants receive not only financial backing but also access to industry experts and a community of ambitious founders.

Chen also mentioned that the application deadline for Speedrun is May 19, as reported on X.

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

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