A16z crypto is raising approximately $2 billion for its fifth phase fund, with plans to complete the fundraising in the first half of 2026 Odaily Planet Daily News: a16z crypto is raising its fifth fund with a target size of approximately $2 billion, and plans to complete the fundraising in the first half of 2026. The fund will be fully focused on blockchain investment. A16z crypto launched its first $300 million fund in 2018, with subsequent phases increasing in size. The fourth phase of the fund reached $4.5 billion in 2022. The size of the fifth fund is less than half of the previous one. According to insiders, a16z crypto plans to shorten the fundraising cycle to adapt to the rapidly changing trend of the cryptocurrency market. At present, the overall cryptocurrency market is sluggish, with Bitcoin falling by nearly half since reaching a historic high in October last year, and the stock prices of listed cryptocurrency companies have also dropped significantly. At the same time, the industry is currently in the most favorable regulatory environment in Washington in 17 years. A16z crypto has been actively investing recently, with projects including decentralized protocol Babylon, cross platform integration tool Kairos for predicting markets, and a $50 million investment in Solana staking protocol Jito. In addition, the landscape of the cryptocurrency venture capital industry is changing, with Paradigm raising up to $1.5 billion in a new fund that expands its investment scope to AI and robotics. Multicoin Capital co-founder Kyle Samani left the company in February to invest in other technology fields. (Fortune)