From PitchBook, October 6:
Andreessen Horowitz's crypto team has a new $2.2 billion fund and isn't afraid to use it.
This week, the VC firm co-led a more than $260 million round for CoinSwitch Kuber, a cryptocurrency trading platform, at a $1.9 billion valuation. A16z also led a $152 million Series B for Sky Mavis, the maker of NFT game Axie Infinity, which reportedly valued it at $3 billion.
In 2021, a16z has participated in eight mega-deals of $100 million or more for crypto startups, a step-change from the far smaller deals of recent years. This activity reflects how late-stage cryptocurrency and blockchain deal sizes have swelled in 2021....
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