a16z's new fund raised $2.2 billion Although it's half the size compared to the previous fund ($4.5 billion in 2022), the overall scale is still decent and not far off from a16z's $3.4 billion AI fund this year. A few observations: - This fund is prepared for the quiet phase of the crypto cycle and might invest in high-ROI projects. - There's a clear trend of funds concentrating around top-tier project teams and VCs. - Aside from AI, crypto is the second most focused area for a16z.