a16z Crypto Launches $2.2 Billion Fund Amid Slowing Market

Wed, 06 May 2026 02:06:00 +0200

Amid a cooling cryptocurrency market, venture capital firm a16z crypto announced the launch of its fifth fund, raising $2.2 billion and bringing its total assets under management to $9.8 billion. The fund also promoted Eddy Lazzarin, previously CTO, to general partner, joining Chris Dixon, Ali Yahya, and Guy Wuollet. The fund has a history of backing major crypto projects such as Coinbase, Kalshi, and the Solana Foundation. This announcement coincides with a challenging period for the crypto market: Coinbase revealed a 14% workforce reduction, and March 2026 recorded the slowest crypto trading volume since November 2023, according to CoinGecko. VC investments in crypto startups are also declining, with Q1 2026 investments nearly $5 billion, down from $6 billion a year earlier. Despite this slowdown, a16z crypto emphasizes its commitment to supporting blockchain-focused startups, arguing that innovation during quieter market periods can be more durable and impactful than during market p