As crypto cools, a16z crypto raises a $2.2B fund
As crypto cools, a16z crypto raises a $2.2B fund
尽管加密货币市场遇冷，a16z crypto 仍募集了 22 亿美元基金
In a blog post that lays out a vision for crypto’s future, ranging from a “new financial system” to warnings about “opaque” AI, a16z crypto announced a new $2.2 billion fund. This is the VC firm’s fifth fund and brings the total raised to date to $9.8 billion, it says.
在一篇阐述加密货币未来愿景的博文中，a16z crypto 宣布募集了一支 22 亿美元的新基金。该愿景涵盖了从“新金融体系”到对“不透明”人工智能的警告等多个方面。这是该风投机构的第五支基金，使其迄今为止的募资总额达到 98 亿美元。
In addition, the fund also promoted its CTO, Eddy Lazzarin, to general partner, bringing the GP investing team to four people. Lazzarin joins Chris Dixon, Ali Yahya, and Guy Wuollet. The fund has backed standout companies like Coinbase, Kalshi, and Solana Foundation.
此外，该基金还将首席技术官 Eddy Lazzarin 晋升为普通合伙人（GP），使 GP 投资团队的人数增加到四人。Lazzarin 将与 Chris Dixon、Ali Yahya 和 Guy Wuollet 并肩工作。该基金此前曾投资过 Coinbase、Kalshi 和 Solana Foundation 等知名企业。
The timing of this news is a bit ironic, with crypto trading in such a slow period that Coinbase announced on the same day it was laying off 14% of its workforce. March was the slowest trading-volume month across crypto exchanges since November 2023, crypto data and news site CoinGecko reported. VC investing in crypto startups has cooled, too, landing at nearly $5 billion in the first quarter of 2026, compared to closer to $6 billion in the year-ago quarter, reports DLNews, citing stats from crypto data site DefiLlama.
这则新闻发布的时间点颇具讽刺意味：加密货币交易正处于低迷期，以至于 Coinbase 在同一天宣布裁员 14%。据加密货币数据和新闻网站 CoinGecko 报道，3 月份是自 2023 年 11 月以来加密货币交易所交易量最低的一个月。DLNews 援引加密数据网站 DefiLlama 的统计数据报道称，针对加密初创公司的风投也已降温，2026 年第一季度的投资额接近 50 亿美元，而去年同期则接近 60 亿美元。
The a16z crypto partners acknowledge this. They describe how crypto highs draw in investment and a fervor of startups, but that “we’re at one of those quieter moments now,” they write. However, they insist that much of what gets built during a downtime “is usually more useful than it looked at the peak, and more durable than it looked at the trough.”
a16z crypto 的合伙人们对此表示认可。他们描述了加密货币的高峰期如何吸引投资和初创企业热潮，但同时也写道：“我们现在正处于这些较为安静的时刻之一。”然而，他们坚持认为，在低迷时期构建的许多事物“通常比在高峰期看起来更有用，也比在低谷期看起来更持久。”
Hot market or not, there is VC money out there for blockchain-related startups that can woo VCs. The part founders will have to overcome is that some of the biggest crypto VCs are now being seduced by AI startups. This is an area swimming in rising valuations.
无论市场是否火热，对于那些能够吸引风投的区块链相关初创公司来说，市场上依然有资金存在。创始人必须克服的困难在于，一些最大的加密风投机构现在正被人工智能初创公司所吸引。这是一个估值不断攀升的领域。
For instance, Paradigm, one of the biggest and most prestigious crypto funds, is reportedly working on raising a fresh $1.5 billion fund to expand its thesis into robotics and AI, The Wall Street Journal reported in February. Plus, Y Combinator, which has cranked out many crypto and blockchain-related startups over the years, didn’t ask for any in its most recent “Requests for Startups” list.
例如，《华尔街日报》在 2 月份报道称，最负盛名的加密基金之一 Paradigm 据悉正在筹集一支 15 亿美元的新基金，以将其投资理念扩展到机器人和人工智能领域。此外，多年来孵化了许多加密和区块链初创公司的 Y Combinator，在其最近的“初创公司需求清单”中并未提及任何相关领域。
Earlier this week, former Andreessen Horowitz investor Katie Haun announced that her crypto-focused firm, Haun, has also raised a new $1 billion fund and will continue to invest in this market. But she’s also looking for AI agent tech as it intersects with crypto/blockchain and fintech.
本周早些时候，前 Andreessen Horowitz 投资人 Katie Haun 宣布，她专注于加密货币的公司 Haun 也募集了一支 10 亿美元的新基金，并将继续投资该市场。但她同时也关注人工智能代理技术，特别是其与加密/区块链及金融科技的交叉领域。
The latest a16z crypto fund will not be lured away by hotter markets, a spokesperson tells TechCrunch, promising that it will be “dedicated 100% to crypto entrepreneurs.”
一位发言人告诉 TechCrunch，最新的 a16z crypto 基金不会被更火热的市场所诱惑，并承诺该基金将“100% 致力于加密货币创业者”。