a16z Crypto Raises $2.2B Fund for Stablecoins and Futures

Andreessen Horowitz’s crypto arm raised $2.2 billion for Crypto Fund 5, the firm announced Tuesday in a blog post by a16z Crypto partners Eddy Lazzarin, Guy Wuollet, Ali Yahya and founder Chris Dixon.

The fund will back founders building infrastructure and products, with target areas including stablecoins, perpetual futures, prediction markets and tokenized assets.

In the post, the partners wrote, “Software is getting more complex and harder to trust,” and argued that as internet infrastructure becomes more consolidated, “the properties that crypto networks were designed to provide become more valuable.”

Crypto Fund 5 is $2.2 billion, down from the $4.5 billion crypto fund the firm raised in May 2022, which was launched around the time of the Terra collapse that preceded a series of industry failures and increased regulatory scrutiny.

A16z described the market as in “one of those quieter moments” and wrote it is focusing on products people continue to use when hype fades. The partners noted stablecoin use has climbed in downturns and cited growth in crypto perpetual futures and prediction markets.

The partners also wrote that traditional assets are starting to move onchain, and that “a new financial system is taking shape that runs continuously, settles nearly instantly, costs almost nothing, and is open to anyone with internet access.”

They framed the fund in the context of U.S. policy, writing that the regulatory environment is moving in the right direction and pointing to lawmakers and White House officials working on legislation to regulate stablecoins. The partners wrote they expect further regulatory progress through legislation and rulemaking.

The announcement followed a rival firm disclosing a $1 billion fund for crypto and artificial intelligence the previous day. Industry data released in April showed AI-related companies drew $242 billion in venture investment in the first quarter of 2026, about 80% of roughly $300 billion in global venture funding that quarter.

A16z Crypto wrote the new fund will prioritize projects that handle real-world financial flows and high-utility infrastructure, with a focus on onchain financial services and specialized products such as stablecoins and derivatives.