a16z crypto is the dedicated crypto investment arm of Andreessen Horowitz (a16z), one of Silicon Valley's most prominent venture capital firms. The fund has backed standout companies like Coinbase, Kalshi, and Solana Foundation. With the close of Fund 5, the total raised to date reaches $9.8 billion across five funds. The firm operates with a long-term, cycle-agnostic conviction in crypto, believing that the infrastructure built during downturns tends to be more durable and valuable than it appears at the time.
a16z crypto's Fund 5 is focused on backing founders building crypto's next phase, from stablecoins to onchain finance and real-world adoption. The firm sees several converging signals as defining this moment: stablecoin usage has continued climbing even through market downturns, with people using them to save, send money across borders, and make payments. Beyond stablecoins, the firm is focused on capital markets innovation including perpetual futures, prediction markets, and onchain lending, as well as the tokenization of traditional assets.
The fund also has a thesis around the intersection of crypto and AI, specifically around the properties that crypto networks provide (transparency, verifiability, global access, aligned economic models) becoming more valuable as AI systems grow more opaque and internet infrastructure more consolidated. This includes backing new models for autonomous AI agents that can transact and coordinate onchain.
Fund 5 closed at $2.2 billion, bringing a16z crypto's total raised to $9.8 billion across all five funds. Alongside the fund close, former CTO Eddy Lazzarin was promoted to General Partner, bringing the GP investing team to four people alongside Chris Dixon, Ali Yahya, and Guy Wuollet. The fund was announced on May 5, 2026, and will be dedicated 100% to crypto entrepreneurs, resisting the broader trend of crypto VCs pivoting toward AI.
Leadership
Chris Dixon is founder and managing partner of a16z crypto. Ali Yahya and Guy Wuollet are General Partners. Eddy Lazzarin, previously CTO, was elevated to General Partner alongside the Fund 5 announcement. Additional investing team members include Elizabeth Harkavy and Jay Drain as Investment Partners, and Noah Levine as Investing Partner. Tim Roughgarden serves as Head of Research, and Anthony Albanese as Chief Operating Officer.
Investment Strategy
The firm's investment philosophy is anchored in the belief that crypto cycles follow a recurring pattern: speculation draws in capital, some of it funds infrastructure that wouldn't otherwise get built, and what remains after the hype tends to be more useful and durable than it appeared at the peak. a16z crypto focuses on the "quieter" parts of the cycle, turning new infrastructure into products people use every day, which it believes produces the most lasting value. The firm invests across stages in crypto-native companies and protocols.
Notable Investments
a16z crypto's portfolio includes:
Notable Exits
The firm's notable exits include Coinbase (NASDAQ: COIN IPO, 2021), one of the most prominent crypto IPOs in history. Additional portfolio companies have been acquired over the fund's history across multiple fund generations.
Other
The timing of the Fund 5 announcement coincided with a cooling crypto market, March 2026 was the slowest trading-volume month across crypto exchanges since November 2023. VC investing in crypto startups has also pulled back, landing at nearly $5 billion in Q1 2026 compared to closer to $6 billion in the year-ago quarter. Unlike some peers such as Paradigm, which is reportedly expanding into robotics and AI, a16z crypto is staying exclusively focused on crypto. The firm also runs the CSX Accelerator, a dedicated program for early-stage crypto founders.
contact@a16zcrypto.com
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Chris Dixon - Founder, Managing Partner
Ali Yahya - General Partner
Guy Wuollet - General Partner
Eddy Lazzarin - General Partner
United States
