Andreessen Horowitz’s Crypto Fund 5 Secures $2.2 B to Back Infrastructure-Focused Blockchain Start-ups

Andreessen Horowitz’s crypto division closed its fifth dedicated cryptocurrency fund with $2.2 billion in committed capital. The fund is led by managing partner Chris Dixon together with partners Ali Yahya, Guy Wuollet and newly promoted GP Eddie Lazarin. Total committed capital across a16z Crypto’s five funds now totals $9.8 billion.

Andreessen Horowitz (a16z), the world's largest virtual asset venture capital (VC), announced on the. .

Fund 4 raised $4.5 billion in 2022, the largest crypto-specific fund at the time, amid the TerraUSD collapse and the FTX implosion. Since then, the U.S. GENIUS Act has created the first federal stablecoin framework, and competition has intensified, exemplified by Katie Haun’s $1 billion crypto-AI fund. Deal activity in crypto venture capital fell sharply in early 2026, prompting firms to shorten fundraising cycles.

A16z Crypto Raises $2.2B for Fifth FundAndreessen Horowitz Raises $2.2B on Crypto Fund 5a16z Crypto Closes $2.2 Billion Fund, Betting on Crypto’s Financial Infrastructure Momenta16z crypto raises $2.2B for Crypto Fund 5Andreessen Horowitz (a16z), the world's largest virtual asset venture capital (VC), announced on the. .

The $2.2 billion fund brings a16z Crypto’s cumulative capital to $9.8 billion; prior vehicles include a $300 million 2018 fund and the $4.5 billion 2022 fund.

Andreessen Horowitz (a16z), the world's largest virtual asset venture capital (VC), announced on the. .

The thesis targets crypto infrastructure—stablecoins, tokenized assets, perpetual futures, prediction markets, on-chain lending and AI agents—over speculative tokens. Stablecoins function as a digital dollar for cross-border payments, savings and settlement, reflecting growing real-world usage even in downturns. Tokenization of real-world assets is accelerating, drawing interest from traditional financial institutions.

A16z Crypto Raises $2.2B for Fifth Fund

a16z’s blog states that the crypto cycle shifts from speculation to durable infrastructure, noting that “the infrastructure built in the process remains more useful… during the uptrend and more durable… during the downturn.” The firm calls the GENIUS Act a thoughtful policy that could unlock consumer protection and institutional participation. It also says the shortened fundraising cycle is intended to “move faster in a market where trends shift quickly.”

Andreessen Horowitz Raises $2.2B on Crypto Fund 5

Observers note a slowdown in crypto venture deals in early 2026 and view the smaller Fund 5 as a cautious stance amid a more selective investment climate.

Andreessen Horowitz Raises $2.2B on Crypto Fund 5

• “The founders we’re backing with this $2.2 billion fund are working on the part of the cycle that gets less attention and produces more of the lasting value: turning new infrastructure into products people use every day.” — Chris Dixon, Managing Partner, a16z Crypto

A16z Crypto Raises $2.2B for Fifth Fund

• “People save with stablecoins and transfer and pay across borders,” — a16z Crypto (official blog)

Andreessen Horowitz (a16z), the world's largest virtual asset venture capital (VC), announced on the. .

• “ On this day, a16z emphasized that the most encouraging market environment in years is unfolding based on the explosive growth of stablecoins.” — a16z Crypto (official blog)

Andreessen Horowitz (a16z), the world's largest virtual asset venture capital (VC), announced on the. .

The fund will be deployed over ten years, with the finalization of the GENIUS Act and continued capital inflows from rivals shaping its trajectory.

Andreessen Horowitz Raises $2.2B on Crypto Fund 5