Andreessen Horowitz has renamed its a16z Crypto unit to a16z Frontier, broadening its focus toward emerging fields like AI and robotics while continuing its blockchain investments.
The team's progress since 2018
The division was launched in 2018 under the leadership of Chris Dixon and has raised nearly $10 billion across five investment funds. The team has successfully backed some of the biggest companies in the space, including the exchange Coinbase. Despite these successes, the company and its investment teams have struggled for years to expand the use of digital currencies beyond financial transactions, trading applications and speculative investments.
The shift to new technologies
With the new name, the group is broadening its focus to emerging technologies, such as artificial intelligence, robotics and new kinds of networks that connect people and machines. The group is not abandoning the space entirely, as blockchain technology can provide economics functions to new networks, according to Chris Dixon.
Changes in leadership
Chris Dixon, Eddy Lazzarin and Guy Wuollet have been named general partners of the revamped division. Ali Yahya, who joined the digital asset strategy as its first investor in 2017, has reportedly left the firm.
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