Andreessen Horowitz Raises $2.2 Billion for Fifth Crypto Fund

Andreessen Horowitz’s crypto arm has raised $2.2 billion for its fifth dedicated crypto venture fund, according to the firm. The fund, known internally as Crypto Fund 5, will be deployed over the next decade and is focused exclusively on crypto entrepreneurs building at all stages, a spokesperson confirmed.

This follows the firm’s 2022 fund that closed at $4.5 billion, bringing a16z crypto’s total capital raised across its funds to $9.8 billion.

The announcement arrives as the firm scales back from its prior $4.5 billion vehicle. ” They described crypto fundamentals as at an all-time high, citing stablecoin growth that has reached a $320 billion market cap and advantages over legacy financial systems they characterized as slow and expensive.

The raise was reported on May 5, 2026. No initial deployments from the new fund have been disclosed. The firm’s crypto practice, led by managing partner Chris Dixon, began in 2018 with a $300 million fund. Its portfolio has included Anchorage Digital, Uniswap and Kalshi.

Dixon’s 2024 book Read Write Own lays out a thesis that blockchains can create a decentralized internet. Areas of interest listed by the firm include perpetual futures, blockchain-based lending, prediction markets, tokenized assets, stablecoins for cross-border payments and savings, and crypto’s role as a financial layer for AI systems.

On the same day, Haun Ventures, founded by former a16z general partner Katie Haun who left the firm in 2021, announced roughly $1 billion across new funds. The capital will support crypto and blockchain startups with an emphasis on alternative assets, the agentic economy and financial services.

Haun Ventures plans to deploy the funds globally over two to three years. The firm’s total assets under management now exceed $2 billion. Portfolio companies mentioned include Erebor Bank and Ellipsis Labs. TechCrunch reported the details of Haun’s raise on May 4, 2026.