TechFlow News — According to a new report from The Wall Street Journal, a16z's flagship crypto fund, Crypto Fund I, lost approximately 40% of its value in the first half of 2022. Prior to this year’s downturn, Crypto Fund I had been one of a16z’s top-performing investments, having grown to more than ten times its original size by the end of 2021.
In the fourth quarter of 2021, a16z participated in 26 crypto funding deals. This number dropped to 17 in the first and second quarters of 2022, and by the third quarter of 2022, the firm completed only nine crypto deals. a16z is not alone in feeling the impact of the bear market. From the second to the third quarter of 2022, overall venture capital investment in crypto fell by 35% to around $6.2 billion.Original link
