A16z Crypto, the Andreessen Horowitz venture capital fund focused on crypto and Web3 startups, has selected the UK as its first international office outside the United States.
The UK’s regulatory environment attracted the fund, as it aims to foster the crypto and Web3 economy while addressing concerns about the industry’s previous ‘casino culture.’ In a blog post announcing the expansion, the firm expressed optimism about the UK’s trajectory, stating, “While there is still work to be done, we believe that the UK is on the right path to becoming a leader in crypto regulation. The UK also has deep pools of talent, world-leading academic institutions, and a strong entrepreneurial culture. It is home to more ‘unicorns’ than Germany, France, and Sweden combined; hosts some of the world’s largest financial markets and pools of capital; and boasts highly sophisticated, world-class regulators. All of these factors position the UK strongly to lead in Web3.”
The new office, expected to launch later this year, will be led by General Partner Sriram Krishnan, who, along with his team, will focus on enhancing the crypto and startup ecosystem in the UK and Europe.
A16z Crypto has already invested in several UK-based crypto companies, including Arweave, Aztec, and Improbable. The opening of the UK office coincides with a new investment in Gensyn, a cryptographic verification system designed to equip developers with the tools needed to build advanced AI systems on any connected hardware.
As part of its UK launch, A16z plans to host its next Crypto Startup School in Spring 2024 in London. The most recent session in Los Angeles attracted over 8,000 applications, with the final 26 teams hailing from various countries, including the UK, US, India, Germany, France, Argentina, Ecuador, and Canada.