Andreessen Horowitz (a16z) is a leading investor in the web3 sector, providing capital to startups despite the current “crypto winter.” In May, the venture firm’s crypto arm, founded and led by general partner Chris Dixon, established a whopping $4.5 billion fund for its fourth dedicated sector fund to continue financing early-stage companies just as the crypto collapse took root.
The same organization, a16z, recently shared the news that they would be relaunching their Crypto Startup School in Los Angeles. Students will have access to mentorship and $500,000 in seed financing during the 12-week program.
The platform launched a statement:
“With the newly relaunched cohort, in addition to the educational and mentorship components, participants will now receive $500k in seed funding to build their company. The program will begin on March 6, 2023 and last for 12 weeks, with teams participating in-person in Los Angeles, CA.”
Background of A16z:
In February 2020, the first Crypto Startup School was established to assist entrepreneurs in constructing their web3 projects. Participants in the program will receive instruction on constructing a web3 startup from the ground up during its duration, which was seven weeks.
Forty aspiring business owners who participated in the 2020 program were able to launch promising web3 firms, some of which include Phantom, Flashbots, Teller, Goldfinch, Afriex, and FanCraze. To further the development of their projects, they together secured more than $300 million from venture capitalists.
A16z Set to Contribute to the Future of Web 3:
According to A16z’s statement on Twitter:
“We couldn’t be more excited about the future of web3.
But we also recognize unique challenges in building a crypto startup, from protocol design to regulatory to GTM.
Unlike general tech accelerators, CSS is designed to help web3 founders navigate this novel terrain.”
A pivotal year has just passed for the web3 industry; A16z is still set to reopen the Crypto Startup School with solid plans to contribute to the future of Web3. This year, the market has been in a state of contraction; a number of the industry’s most significant firms have made forays into web3 and metaverse in recent months, placing their bets on the long-term potential of these two spaces.
However, in light of A16z’s preparations and efforts towards a better Web3 future, the web3 startup Proof, creators of the Moonbirds NFT line, raised $50 million during a Series A funding round led by a16z earlier this year. In May, the VC company also closed its fourth cryptocurrency fund, which had raised $4.5 billion.
If you’re also interested in the program, make sure to apply for it.