Venture capital monolith Andreessen Horowitz (a16z) announced today it has raised $2.2B for its fifth crypto-focused fund.

What’s the Scoop?

• Fifth Fund: The crypto arm of venture firm a16z has raised $2.2B in committed capital for its fifth fund. Although the raise is notably shy of a16z crypto’s record $4.5B fourth fund raised in 2022, potentially signaling slowing crypto venture appetite, the firm claimed in a comment to The Block that the reduced raise was intentional, as “shorter fundraising cycles allow us to keep pace with ever-changing crypto trends.”

• Onchain Momentum: According to a post published to X by a16z partner Chris Dixon, “the signal coming through [the crypto industry] is one of the most encouraging it…