a16z Set to Open a Crypto Office in London: Details
- Andreessen Horowitz (a16z) will open its first international crypto office outside the US in London.
- The founder and managing partner of the VC firm said that the UK has a “predictable business environment.”
- The firm aims to locate its next Crypto Startup School accelerator program in the UK in 2024.
- a16z also led a $43 million investment in UK-based startup Gensyn.
Private American venture capital firm Andreessen Horowitz, also known as a16z, has confirmed that it will open a new crypto office in London, confirming its first office outside of the United States. This announcement comes at a time when crypto firms are abandoning their hopes of establishing operations in the US in search of more crypto-friendly nations.
The founder and managing partner of a16z, Chris Dixon, stated that the UK has a “predictable business environment” and is therefore a suitable region to establish an office in. It is important to mention here that the venture capital firm manages around $7.6 billion of committed capital and aims to locate its next Crypto Startup School accelerator program in the UK in 2024.
As per the announcement, a16z will work closely with the universities in the UK “to support the development of blockchain technologies and startups.” The firm also led a $43 million investment in UK-based Gensyn, a firm that provides decentralized computing resources for AI systems and applications.
“As we cement the UK’s place as a science and tech superpower, we must embrace new innovations like Web3, powered by blockchain technology, which will enable start-ups to flourish here and grow the economy,” said Prime Minister Rishi Sunak while adding that he is “determined to unlock opportunities for this technology and turn the UK into the world’s Web3 center.”
“That’s why I am thrilled world-leading investor, Andreessen Horowitz, has decided to open their first international office in the UK, which is testament to our world-class universities and talent and our strong competitive business environment,” Sunak stated.
As reported earlier by BitcoinWisdom, Dixon revealed last year that his firm has billions to invest in crypto startups. Additionally, in October 2022, the venture capital firm said that it had relaunched the Crypto Startup School with plans to expand it into a full accelerator program. a16z will also invest 500,000 USD in each crypto startup that has applied for the new program to expand their services.
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
