a16z Crypto raises $2.2B fund to back stablecoins and prediction markets
Andreessen Horowitz's crypto investment arm, a16z crypto, raised $2.2 billion for a new fund targeting stablecoins, prediction markets, and tokenized assets. The fund represents one of the largest crypto venture capital raises in recent years. Eddy Lazzarin, an a16z Crypto general partner, cited complexity and trust issues in software as a driving theme behind the investment thesis. The firm said it targets projects that 'people keep using when the hype fades.' The fund signals continued institutional appetite for event-contract infrastructure even after the 2024 election cycle, with capital flowing directly into the prediction-markets infrastructure layer.
Puts institutional pressure on Polymarket and Kalshi to mature their infrastructure fast enough to absorb nine-figure checks, or risk watching a16z deploy that capital into well-funded competitors with deeper compliance benches.