a16z Renames Crypto Fund to Frontier, Expands Scope to AI

Andreessen Horowitz announced on Thursday that it is renaming its digital asset unit from a16z Crypto to a16z Frontier. The firm stated that the renamed fund will widen its scope to include AI and other long-horizon technologies. Despite the name change, the company confirmed it will continue to invest in crypto and related ventures.

The new fund mandate covers startups building new technologies and creating markets that may take years to develop. Under the new name, the team is broadening its focus to emerging technologies such as AI, robotics, and new kinds of networks. The next wave of investments includes autonomous machines that can perceive, reason, and act in the physical world. Chris Dixon argues that companies should be defined by what they do rather than the technology they use.

Chris Dixon will lead the new fund alongside Marc Andreessen, Ben Horowitz, Eddy Lazzarin, and Guy Wuollet. Dixon joined a16z in 2013 and has run the crypto team since 2018. The practice of the fund has raised nearly $10 billion across five funds since launching in 2018. The most recent fund size on record for a16z Crypto was $2.2 billion, announced in May. Andreessen Horowitz raised more than $15 billion across its funds in January.

Ali Yahya, who joined the crypto strategy as its first investor in 2017, has left the firm. Bitcoin was trading at $81.8k during the time of the announcement. Chris Dixon envisions a role for crypto in letting AI agents pay each other.