Andreessen Horowitz, commonly referred to as a16z and recognized as the largest venture capital firm in terms of assets under management, is reportedly gearing up to secure $3.4 billion for its forthcoming early and seed-stage venture funds.

According to Axios’ report on Monday, a16z intends to kickstart its fundraising endeavors by the end of this year, with the goal of concluding them during the first half of 2024.

Blockworks reached out to a16z for comment but has not received an immediate response.

While a16z is renowned for its focus on technology, the emerging artificial intelligence (AI) sector, and social media platform investments, the firm’s portfolio also includes investments in various cryptocurrency projects and businesses.

Some of a16z’s prominent crypto investments encompass Coinbase, Aptos, Avalanche, Dapper Labs, Layer Zero, OpenSea, and Worldcoin, among others.

The report suggests that crypto investments will remain a central focus, with new investment opportunities expected to emerge in 2025.

One of the firm’s recent crypto investments was smlXL, which successfully raised $13.4 million in late October.

In September 2022, a16z Crypto led a $16.8 million seed round for NFT-focused startup IYK, alongside investors such as Collab Currency, Lattice Capital, 1kx, Synergis Capital, and others.

Andreessen Horowitz has also exhibited a growing interest in the UK market. In May, the firm corresponded with the UK government in response to a February consultation on crypto regulation. a16z advised the country to steer clear of a “one-size-fits-all” approach and criticized U.S. regulators for relying on the “difficult to enforce” Howey test in their securities regulation framework.

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