VC Andreessen Horowitz bets big on blockchain project Dfinity

29 Aug, 2018
News
VC Andreessen Horowitz bets big on blockchain project Dfinity

Venture Capital company Andreessen Horowitz has put their biggest bet on a blockchain project since the launch of their two month old crypto fund. 

Andreessen Horowitz has gone big on Dfinity, a startup that hopes to become the foundation for the next internet. 

Bloomberg reports that Dfinity has raised $102 million in a private sale of tokens to accredited investors. Other investors include Polychain Capital, SV Angel, Aspect Ventures, and Multicoin Capital. 

Andreessen Horowitz have said that Dfinity is the biggest position in its two month old cryptocurrency fund. The VC declined to specify exactly how much was invested. Horowitz biggest reason for investing in Dfinity, is because of their all-star team including former Alphabet Inc. and Uber Technologies Inc. engineers, and Yale University Phds. 

Dfinity withdrew from running an initial coin offering (ICO) due to regulatory issues and hurdles. The team decided to rather airdrop over $35 million in tokens to the community.

Recap: DFINITY announces CHF35M airdrop, the world's largest

Dfinity is set for its beta version launch in 2019. 

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