Enterprise capital agency Andreessen Horowitz (a16z) is about to open its first workplace outdoors of america this yr, including to the backdrop of U.S.-based companies looking for greener pastures outdoors of the nation.
Chris Dixon, a16z’s crypto founder and managing accomplice, cited a “predictable enterprise surroundings” as one of many predominant components behind its determination to increase. The transfer comes amid a slew of regulatory actions in opposition to crypto companies in america in latest months.
Massive information to share: @a16z is increasing to the UK
We plan to open our first worldwide workplace in London later this yr, and can host the following Crypto Startup College there in 2024.
Why the UK? https://t.co/PQ7GuNEn77
— cdixon.eth (@cdixon) June 11, 2023
Dixon mentioned the choice was finalized after a “productive dialogue” with the U.Okay. prime minister along with “months of constructive conversations” with HM Treasury, U.Okay. policymakers, and the Monetary Conduct Authority. He added:
“We’re thrilled to open our first worldwide workplace in a jurisdiction that welcomes blockchain know-how and is dedicated to making a predictable enterprise surroundings by pursuing laws that each embrace web3 and shield shoppers.”
Nevertheless, Dixon mentioned the agency stays “closely invested” within the U.S., and can proceed to work with policymakers and regulators to push for extra regulatory readability for crypto begin ups.
Rishi Sunak — the U.Okay.’s new pro-crypto prime minister — attributed the information of a16z’s enlargement to having the “proper regulation and guardrails” set in place to “foster innovation” whereas nonetheless defending shoppers.
Sunak mentioned he was “thrilled” with a16z’s determination:
“That’s why I’m thrilled world-leading investor, Andreessen Horowitz, has determined to open their first worldwide workplace within the UK – which is testomony to our world-class universities and expertise and our robust aggressive enterprise surroundings.”
Along with the brand new workplace, a16z has additionally introduced its plan to launch a brand new “Crypto Startup College” (CSS) program in London within the spring (March to June) of 2024.
The CSS accelerator program will goal to draw U.Okay. and worldwide entrepreneurs eager on forging a profession in Web3.
The newest CSS program obtained greater than 8,000 candidates, with 26 firms receiving an funding from a16z.
Our subsequent Crypto Startup College might be Spring 2024 in London, & we hope to draw nice groups from the area to construct web3 initiatives. Our latest CSS in LA included groups from the UK, US, India, Germany, France, Argentina, Ecuador, & Canada.https://t.co/vxBIPFuSPj
— cdixon.eth (@cdixon) June 11, 2023
The U.Okay. workplace may also “work intently with universities” within the U.Okay. to “present expertise and assist” for blockchain-based golf equipment and to encourage blockchain know-how to be taught extra within the classroom.
Associated: a16z releases nameless voting system for Ethereum
Common Associate Sriram Krishnan might be accountable for the brand new workplace in London.
Actually excited for @a16z’s increasing to the UK with our first worldwide workplace in London.
And personally excited to be shifting there later this yr. https://t.co/fJZSfEmHnO
— Sriram Krishnan – sriramk.eth (@sriramk) June 11, 2023
Andreessen Horowitz is the most important enterprise capital agency on the earth, with over $35.8 billion in property beneath administration (AUM), in keeping with the Sovereign Wealth Fund Institute.
On June 11, a16z led a $43 million Collection A fundraise for London-based Gensyn, a blockchain-based market connecting patrons and sellers of computing energy.
A few of a16z’s most notable investments within the cryptocurrency house embody Coinbase, Avalanche, Compound, Dapper Labs, Matter Labs, OpenSea, Optimism, PROOF, Solana, Uniswap and Yuga Labs.
Cointelegraph reached out to a16z for remark however didn’t obtain an instantaneous response.
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