Andreessen Horowitz has raised $2.2 billion for Crypto Fund 5, targeting projects that merge crypto, AI, and traditional finance.

CTO Eddy Lazzarin, recently promoted to general partner, will lead the fund, Bloomberg News reported. The firm now manages roughly $9.8 billion in crypto across five funds.

"You see this in every cycle if you look past prices: what actually gets built, and what people keep using when the hype fades. We're at one of those quieter moments now. And the signal coming through is one of the most encouraging it has been in years," the firm's partners wrote in a post.

Bitwise Asset Management CEO Hunter Horsley says the crypto industry is entering a new phase in 2026, driven by rapid institutional adoption and improving regulatory clarity.

In an Apr. 30 interview, Horsley said banks, corporations and financial institutions are moving aggressively into digital assets, with some firms pushing teams to go “from zero to 500 miles an hour” on crypto strategies.

Several major venture capital firms have also secured new funding recently, despite declines in the overall cryptocurrency market. 

Haun Ventures, founded by a former general partner at Andreessen Horowitz, revealed this month that it raised $1 billion to invest in crypto and blockchain startups.

Meanwhile, Blockchain Capital is looking to raise $700 million for two new funds, . The firm is raising funds for its seventh early-stage vehicle and a second growth fund. Both funds expect to close within the next five to six months.

In February, Dragonfly Capital completed fundraising for its fourth fund, raising $650 million.

Photo: Andreessen Horowitz | Photo courtesy: rafapress /