Andreessen Horowitz Launches Crypto Accelerator Amid Volatility

Andreessen Horowitz Launches Crypto Accelerator Amid Volatility
  • Andreessen Horowitz has announced its Crypto Startup School program.
  • The incubator will support crypto startups with at least a $500,000 investment.
  • The program will be held in Santa Monica, California. 

Silicon Valley venture capital firm Andreessen Horowitz (a16z) has launched its own crypto startup accelerator. Appropriately named Crypto Startup School, the program will offer financial assistance, mentorship, and networking to approved startups.

As mentioned in the tweet, those that join the startup incubator will receive at least $500,000 investment from Andreessen Horowitz on top of getting access to the VC firm’s exclusive network. 

However, the program is going to be held in Santa Monica, California. Those that will be accepted into the program are required to be there.

Andreessen Horowitz launched the program temporarily back in February 2020. During this time, the incubator program supported projects such as Solana-based wallet Phantom, DeFi protocol Goldfinch, to mention a few. Now, the VC firm is making Crypto Startup School a permanent program.

The startup accelerator program was announced amid ongoing volatility. Many crypto firms deemed stable have laid off staff this year, including Coinbase and Gemini. 

What is worse, Celsius and Voyager Digital have become bankrupt, with the latter being acquired by FTX for $50 million in late September. As reported by CryptoNewsLand, other companies that wanted to purchase Voyager were Binance and CrossTower.

Meanwhile, Andreessen Horowitz is known in the crypto space for investing in an array of crypto companies. Some notable startups include projects that focus on building Web3. In fact, in May 2022, the VC firm revealed that it has raised up to $4.5 billion for its Web3 fund.

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Jesus covers news related to the crypto space in Asia and in Australia, although he follows the latest events in the US and Europe as well. He is most interested in the blockchain gaming and regulation aspects of the industry.