Andreessen Horowitz raises $515 million for second crypto fund

Zoom in: "We're a crypto venture fund, not a crypto hedge fund," said partner Katie Haun, who joined Andreessen Horowitz in 2018 after having been a federal prosecutor involved in the infamous Silk Road case. "We invest in them after evaluating the technologies and don't trade them."

• First fund portfolio companies include Anchorage, Arweave, Celo, Filecoin, and TrustToken.
• Haun and fellow partner Chris Dixon add that the biggest difference between funds is the influx of successful entrepreneurs from adjacent spaces who now are seeking to build on top of crypto technologies — something Dixon refers to as Web 3.0.