a16z Raises $2.2B Crypto Fund to Back Web3 Apps

Andreessen Horowitz’s crypto arm announced a $2.2 billion fifth dedicated crypto fund, led by founder Chris Dixon with general partners Ali Yahya, Guy Wuollet and Eddy Lazzarin. The firm said it will deploy the capital over the next decade into startups building practical applications on existing blockchain infrastructure.

The fund is smaller than a16z’s $4.5 billion crypto vehicle raised in 2022 but remains one of the largest dedicated crypto venture raises this year. Competing funds this year include Haun Ventures’ $1 billion raise and Dragonfly Capital’s approximately $650 million fund. Ethereal Ventures manages just under $150 million across two funds and has backed more than 80 early-stage startups, including EigenLayer, which reached a $1.05 billion valuation after a Series B led by a16z.

A16z described the fund’s focus as financing projects that convert core blockchain infrastructure into usable products. The firm pointed to stablecoin use in cross-border payments and savings, and rising activity in perpetual futures, prediction markets and on-chain lending as areas of sustained demand through market cycles.

The firm plans to concentrate on applications built on existing chains rather than speculative new protocols. Partners Yahya, Wuollet and Lazzarin will help oversee deal sourcing and portfolio support alongside Dixon.

Some portfolio companies tied to a16z activity are advancing consumer offerings. Solana infrastructure firm Jito, which previously received backing from a16z, plans to launch a consumer trading app called JTX in July. Lucas Bruder, Jito’s chief executive, said the company holds “well north of $100 million” in cash and does not plan to wait for others to build consumer experiences on its infrastructure.

Industry fundraising showed volatility in recent months. Data show $662.4 million was raised across 64 crypto funding rounds in April 2026, the lowest single-month total in the prior 12 months. Despite that soft patch, several large institutional funds have closed this year.

Regulatory and institutional developments have coincided with new fund activity. The firm cited ongoing U.S. legislative work on stablecoin rules. Swiss exchange operator SIX received approval from FINMA to fold its digital securities depository into its main custody unit, allowing custody of cryptocurrencies through the same regulated entity used for stocks and bonds. Rafael Moral Santiago, head of Securities Services at SIX, described the objective as providing “unified, secure and regulated” access to digital assets. Separately, Securitize, with Cantor Equity Partners II, Jump Trading and Jupiter, launched fully on-chain regulated trading of tokenized equities on the Solana blockchain under existing securities laws.

The $2.2 billion fund continues a16z’s pattern of large allocations to crypto-focused venture funds and adds to the pool of institutional capital available to startups aiming to build products on blockchain rails.