Andreessen Horowitz is opening its first international office in the U.K

 

Andreessen Horowitz is opening its first international office in the U.K. to invest in crypto startups in the nation.  The company anticipates a stronger regulatory environment for cryptocurrency firms in the country. A16z's new office will be led by Sriram Krishnan, one of the firm's four general partners.  A16z intends to commence a 12-week accelerator program, dubbed Crypto Startup School, for emerging founders next spring.  The slump in crypto prices and markdowns on equity investments have wiped off 40% of the value of A16z's inaugural fund. The firm raised a $2.2B third crypto fund in 2021 and a $4.5B fund fourth crypto fund in 2022.  A16z's crypto general partner Chris Dixon expects the U.K.'s regulatory landscape to be conducive to crypto, unlike the U.S., where the SEC has taken an aggressive public stance against the industry.  "We've been wanting regulatory clarity for a long time. In the U.K., I think it will happen faster because there's more political will," said Dixon.  The British government released a consultation paper earlier this year highlighting potential proposals for crypto regulation.