Author: Nikhilesh De / Source: CoinDesk
Andreessen Horowitz can now back crypto startups with potentially up to $1 billion, after reportedly making some recent internal changes.
The company’s founders – Marc Andreessen and Ben Horowitz – told Forbes that they had registered all of its 150 employees as financial advisors, so as to allow them to place larger bets and invest more heavily into high-risk asset classes, such as cryptocurrencies.
As such, A16z is shifting away from being a traditional venture capital firm, with its 150 employees each becoming a financial advisor.
According to Forbes, the company can now put as much as $1 billion in these riskier bets, such as cryptocurrency or other digital assets. The firm can also “buy unlimited shares in public companies or from…