WORLDTECHAli Yahya Leaves a16z as Its Newest Crypto Fund Opens to AI Startups
A general partner at a16z is leaving to start a company, the same evening the firm's crypto arm widened the mandate of its newest fund to include AI and other frontier startups. The account comes from a single outlet, Unchained, and the firm's own statement.
Crypto arm widens its remit
Chris Dixon, who leads the crypto team, said the newest fund is no longer confined to crypto. The group now operates under the name a16z Frontier, and its former a16zcrypto.com blog address redirects to a new domain.
Dixon framed the change as an expansion rather than a retreat. In his account the firm will keep investing in crypto and related ventures and keep pressing for measured crypto regulation.
Fund sizes and departure
a16z closed its fifth crypto fund at $2.2 billion in May, which brings its total across five crypto funds to $9.8 billion.
Ali Yahya confirmed on Thursday evening that he will start a company, a move that followed Dixon's announcement by only a few hours. Dixon's post did not state the size of the newest fund or how much of its capital could be directed outside crypto.
Open questions
- How much of the newest fund's capital will go to non-crypto startups?
- What company will Ali Yahya start, and when?