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Andreessen Horowitz (also known as a16z) is planning to raise up to $4.5 billion for two new crypto funds, according to a report by the Financial Times.

Last week, the Silicon Valley venture capital firm reportedly told investors that it will raise $3.5 billion for its venture fund, while another $1 billion will be raised for its seed investments in the web3 space, with plans set to be confirmed in March.

If a16z manages to successfully charm investors, the $4.5 billion haul would be the largest raise by any crypto venture investor to date.