Silicon Whale Launches $4.5B Web3 Acceleration Fund

Bitcoin and tech stocks seem to be correlated these days, some weeks more tightly than others. And while in general, both are having trouble gaining upward momentum, that hasn’t stopped the optimism from forward-thinking Silicon Valley venture capital firms (or LQwD’s!).

Most recently, well-known and most prominent venture capital firms, Andreessen Horowitz, closed its latest Web3 fund, one worth US$4.5 billion, showcasing the widening interest in the space.

The company wrote in their announcement, “We think we are now entering the golden era of Web3. Programmable blockchains are sufficiently advanced, and a diverse range of apps have reached tens of millions of users. More importantly, a massive wave of world-class talent has entered web3 over the last year. They are brilliant and passionate and want to build a better internet.”

They continued, “That’s why we decided to go big. We’ve been investing in crypto since 2013, and today we’re announcing our fourth fund, totalling $4.5 billion. Of that, approximately $1.5 billion will be dedicated to seed investments, and $3 billion to venture investments. This brings our total crypto/Web3 funds raised to over USD$7.6 billion.”

“We are equally optimistic and especially enthused by the growth of our footprint on Lightning Network, which continues to experience explosive growth momentum.”

– Shone Anstey, CEO of LQwD Fintech Corp. 

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