The 20m Series is an investment fund that is focused on startups that are in the Internet and mobile industries. The fund is managed by Andreessen Horrowitz and Primack Axios, both of whom are renowned entrepreneurs. Read on to learn more about the fund.
About the 20m Series
Andreessen Horowitz is one of Silicon Valley’s most formidable venture capital firms. It has invested in everything from Reddit to Facebook. Now, it has closed on two new funds. A new crypto-focused fund and a growth equity fund.
The firm recently raised a $515 million crypto-focused fund. This comes on the heels of a $200 million biotech fund and a $450 million successor fund.
Andreessen Horowitz is moving away from multi-sector flagship vehicles in favor of more focused fundraising. That includes a crypto-focused fund, a blockchain fund, and a growth equity fund.
One of the firm’s latest investments is Clubhouse, a decentralized social networking platform. It is the first to achieve a valuation of more than a billion dollars, and has attracted over 180 investors. As a result, several top-tier venture capital firms competed for a stake. In the end, Andreessen Horowitz led the round, and will take a seat on the board.
Another venture, Syndicate, is a decentralized investing platform. The company raised $20 million in Series A funding. Most of the money came from Andreessen Horowitz. Other investors include Snoop Dogg, Box Group, and Tiger Global.
Another of the firm’s latest investments is Turquoise Health, which aims to provide transparency in health care costs and decisions. Baillie Gifford and Global Oryx are also investors.
Andreessen Horowitz is one of the most powerful and well-funded venture firms in Silicon Valley. The firm has made several investments in the past several years, including Facebook, Twitter, Reddit, and Pinterest. However, the firm has also been accused of disintermediating the media, or at least the press. Some say the firm has a grudge against legacy publishers.
Earlier this year, the firm made a big splash with a $2.2 billion fund, led by founders Ben Horowitz and Marc Andreessen. However, the firm has also been plagued by executive turnover in recent months. Axios reported earlier this month that Andreessen Horowitz is about to lose a few notable members of the team. For those keeping score, the biggest change is the departure of former head of Binance Labs Bill Qian. Meanwhile, Katie Haun, an investor and crypto evangelist who helped the firm become the largest investor in the crypto space, plans to leave her job as an independent director at Coinbase to form her own fund.
It should come as no surprise that the firm has launched a content effort aimed at elevating innovation and fostering entrepreneurship in the crypto ecosystem. One of the most high-profile members of the team is the company’s newest member Rachael Horwitz, who will be in charge of marketing.
About the Fund
The Andreessen Horrowitz Primack Axios Fund will make an investment in tokens and startups. The firm will focus on investing in companies that combine biology and computer science. It will also consider end-to-end NFT services.
Andreessen Horrowitz recently announced that they’ve raised two new funds. One will be a venture capital fund, while the other will be a crypto fund. They’ll be run by a team of seven.
Katie Haun is leaving Andreessen Horowitz to start her own firm. She’s the first female partner at the firm, and she’s been a force in crypto and Web3 ventures.
During her tenure, she helped turn Andreessen Horowitz into the largest crypto investor. Her former firm has invested in Coinbase, as well as the University of California and charitable foundations.
Now, she’s taking on a bigger role at the firm. This new venture will be her first general partner role. However, she’s expected to retain all her current board seats at Andreessen Horowitz.
According to the firm, the new fund will make its debut later this year. It will look at developers’ tools and end-to-end NFT services. It will be a specialized fund, so it will have a more asset allocation friendly approach.
The other significant announcement is the creation of the firm’s new content site. It will be written by employees and outside contributors, and will not include political or investigative reporting.