After spending $2.2 billion on a slew of crypto and web3 projects by December 2021, a16z geeks are determined to raise even more money for crypto.

The web3-obsessed venture capital firm is seeking to raise $4.5 billion from investors, with $1 billion alone dedicated to seed-stage investments targeting deployment by March 2022.

The company has come under fire lately from high-profile tech players, particularly Twitter’s Jack Dorsey, accusing it of capturing what is believed to be a decentralized internet spinoff.

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SEE ALSO: Google and a16z Lead $20M Investment in Carry1st, Africa’s Largest Web3 Games Publisher
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However, that hasn’t put off the venture capital firm led by Marc Andreessen and Ben Horrowitz, as they are now set to nearly double production in the past six months.

Some of the crypto/web 3 projects they have invested in during this time include:

  • Alchemy
  • Celo
  • Dapper Labs
  • Goldfinch Finance
  • OpenSea
  • UniSwap

The VC is also diversifying and enriching its web3 tracking pool. A new general partner, Sriram Krishnan, has already joined the fund announcing that he will now only invest in web 3 and crypto. The new partner has worked in products for organizations like Facebook and Twitter and represents more talent who have developed an unwavering belief in the value of web3.

In January 2022, a16z announced a separate $9 billion further raise for its business, growth, and biological discoveries — some of which could also go toward crypto projects.

When it comes to its notes, the company wants to write checks as small as $25,000 and up to hundreds of millions of dollars.

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RECOMMENDED READING: Inside the Web3 debate – Is everything hype?

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