A16z received the right to invest up to $ 1 billion in high-risk assets, including cryptocurrencies

Venture capital firm Andreessen Horowitz will be able to increase investment in cryptocurrency startups after making the necessary changes to its structure.

Founders Marc Andreessen and Ben Horowitz told Forbes that they have registered all of their 150 employees as financial advisors, allowing them to move away from traditional venture capital and make larger investments, including in high-risk assets such as cryptocurrencies..

According to Forbes, A16z can now invest up to $ 1 billion in such assets, as well as "purchase an unlimited number of shares in listed companies and other investors" in accordance with the rules of the Commission on securities and US exchanges (SEC).

As a traditional venture capital firm, Andreessen Horowitz was unable to work so closely with such assets due to existing restrictions. In particular, the SEC does not allow placing more than 20% of venture capital in "high-risk" assets.

The required procedures were completed in March. The firm had to hire additional staff, responsible for compliance with regulatory requirements, as well as conduct an audit of the entire state. General partner Katie Haun, who heads the company's dedicated crypto fund, told Forbes that the restructuring has brought a number of benefits. For example, now partners of a firm can participate in transactions on its behalf. without the need conclude additional agreements.

In the past, A16z has actively invested in the crypto space. Its portfolio includes Coinbase exchange, stablecoin developer TrustToken, cloud computing platform Oasis Labs and others..

Last June, the company launched a $ 300 million crypto fund.

Bitcoin, Ether, XRP, Litecoin and more

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среда, 16 декабря 2020 г.