Andreessen Horowitz (a16z), a venture capital firm, is planning to establish its first overseas office in 2021, joining the numerous U.S.-based firms that are looking for opportunities outside of America.
Chris Dixon, the crypto founder and managing partner of a16z, mentioned that a “stable business atmosphere” was one of the chief reasons for its decision to expand. This action has occurred in the midst of a number of regulatory actions taken against crypto companies in the United States in recent times.
Dixon declared that the conclusion was reached after a “fruitful exchange” with the British Prime Minister, as well as “many months of productive discussions” with HM Treasury, British government officials, and the Financial Conduct Authority. He further remarked:
Despite this, Dixon declared that the company is still “strongly invested” in the United States and will keep working with policymakers and regulators to advocate for more specific regulations for crypto startups.
Rishi Sunak, the U.K.’s pro-crypto Prime Minister, credited the right regulations and safeguards for enabling a16z’s expansion, noting that they are necessary to both foster innovation and protect consumers.
Sunak expressed his delight at a16z’s decision.
In addition to the new office, a16z has also revealed their intention to establish a “Crypto Startup School” (CSS) program in London in the spring of 2024 (March to June).
The CSS accelerator program will seek to draw in U.K. and global entrepreneurs who are eager to pursue a profession in Web3.
More than 8,000 applicants applied to the most recent CSS program, and 26 companies were awarded an investment from a16z.
The U.K. office will partner with universities in the country to supply personnel and resources for blockchain-oriented student clubs and to promote the teaching of blockchain technology in the classroom.
a16z has unveiled an anonymous voting system for Ethereum.
Sriram Krishnan, General Partner, will oversee the new office in London.
Andreessen Horowitz is the largest venture capital firm globally, boasting an impressive $35.8 billion in assets under management (AUM), according to the Sovereign Wealth Fund Institute.
On 11th June, a16z spearheaded a Series A funding round of $43 million for Gensyn, a London-based blockchain-powered marketplace that links buyers and sellers of computing power.
Notable investments by a16z in the cryptocurrency sector include Coinbase, Avalanche, Compound, Dapper Labs, Matter Labs, OpenSea, Optimism, PROOF, Solana, Uniswap and Yuga Labs.
Cointelegraph contacted a16z but did not receive an immediate reply.
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