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Andreessen Horowitz Expands to London

a16z Expands to London Amidst US Crypto Crackdown
June 13, 2023

Renowned US investor Andreessen Horowitz (a16z) has chosen London as the location for its first international office, signaling its confidence in the UK's blockchain and web3 potential. As US regulators tighten their grip on the crypto industry, a16z sees London as a welcoming jurisdiction that embraces blockchain technology while prioritizing consumer protection. With a focus on collaboration with universities and fostering blockchain activities, a16z's move highlights the growing importance of the UK in the evolving crypto landscape.

Headed by general partner Sriram Krishnan, a16z's London office builds upon the firm's existing involvement in the UK-based web3 sector. Notable investments in blockchain startups such as Arweave, Aztec, and Improbable demonstrate a16z's commitment to supporting innovative projects. Recently, the firm led a significant $43 million Series A round investment in Gensyn, a blockchain-based marketplace headquartered in London.

At a critical juncture, Andreessen Horowitz's choice to open a London office aligns with increased regulatory scrutiny on prominent crypto players like Binance and Coinbase. These exchanges have encountered charges linked to unregistered token sales and offerings, as well as their failure to register as exchange or broker-dealers with the US Securities and Exchange Commission (SEC).

Chris Dixon, founder and managing director of a16z's crypto fund, expressed enthusiasm for the UK's blockchain-friendly environment. Following positive engagements with UK policymakers, HM Treasury, and the Financial Conduct Authority, a16z is eager to contribute to the growth of the UK web3 ecosystem. While awaiting comprehensive regulations, the firm anticipates collaborating with local stakeholders to create a predictable business environment that supports both innovation and consumer interests.

With Andreessen Horowitz's decision to establish its first international office in London, the UK's position as a leading hub for blockchain and web3 technologies receives a significant boost. As regulatory shifts impact the crypto industry, a16z's move highlights London's welcoming stance towards blockchain and its commitment to fostering innovation. By partnering with universities and supporting local projects, a16z aims to contribute to the growth of the UK web3 ecosystem, while actively participating in the evolving global crypto landscape.

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