The key facts
- a16z Crypto has been renamed a16z Frontier; the division has raised nearly $10 billion across five funds since 2018
- The mandate is expanding to AI, robotics, and 'new kinds of networks,' but the crypto focus remains
- Partners include Chris Dixon, Eddie Lazzarin, and Guy Wuollet; Ali Yahya has left the firm (according to The Information)
Digital assets division changes its name
Andreessen Horowitz announced on Thursday the renaming of its digital assets division: a16z Crypto is now called a16z Frontier. TechCrunch interprets this as a sign that investments in cryptocurrencies and blockchain have lost their former significance in the industry.
History of the division
The division, led by Chris Dixon, was launched in 2018 and has since raised nearly $10 billion across five funds. It participated in the sector's biggest successes, including Coinbase. At the same time, as the publication notes, a16z and competing venture firms have for years been unable to extend the usefulness of cryptocurrencies beyond financial infrastructure, trading apps, and speculative assets.
Expanded mandate
Under the new name, the team is expanding its scope to emerging technologies: artificial intelligence, robotics, and 'new kinds of networks' connecting people and machines. The division is not abandoning cryptocurrencies: in a blog post, Dixon wrote that blockchain can 'give new networks native economic capabilities.'
Personnel changes
The general partners of a16z Frontier alongside Dixon are Eddie Lazzarin and Guy Wuollet. According to The Information, Ali Yahya has left the firm — the first investor in the crypto strategy, who joined it in 2017.
