Enterprise capital (VC) big Andreessen Horowitz (a16z) is scaling again its high-profile push into the UK crypto market, as reported by The Monetary Instances, to refocus its efforts on the US underneath President Donald Trump’s administration.
The agency, which opened its first workplace exterior the US in London in 2023, had touted its growth as a big dedication to the UK’s crypto trade.
Nonetheless, two sources with data of the agency’s discussions revealed that a16z has lately signaled to UK entrepreneurs and policymakers that it plans to cut back the time and sources allotted to its British operations.
The pivot comes because the Trump administration takes a crypto-friendly stance. On Jan. 23, the president signed an government order to advertise digital property within the US and discover creating a nationwide digital asset stockpile.
Sriram Krishnan, initially appointed to guide a16z’s UK operations, stepped again from his London-based position final 12 months and lately joined the Trump administration, additional underscoring the agency’s shift in priorities.
Founders Marc Andreessen and Ben Horowitz have additionally emerged as supporters of Trump, advising him on know-how coverage.
Again to the US
Andreessen Horowitz’s London workplace, which opened with fanfare and endorsements from then-Prime Minister Rishi Sunak, was seen as a vote of confidence within the UK’s standing as a world fintech hub.
Sunak described the agency’s arrival as a testomony to the UK’s “world-class universities and expertise” and its “sturdy aggressive enterprise setting.”
The agency has invested in a number of UK-based crypto firms, together with Arweave, Aztec, and Unbelievable, however many of those offers have been led from its US headquarters.
Chris Dixon, who leads a16z’s crypto investments, had praised London as a “main monetary hub” and a “very engaging place for individuals to reside” throughout the agency’s preliminary UK growth.
Nonetheless, latest conversations with native entrepreneurs counsel that the agency is more and more lowering its London presence to occasional visits from US-based companions.
Andreessen Horowitz has $43 billion in dedicated capital. In keeping with information from DefiLlama, the VC fund has practically 200 offers associated to crypto companies, with a choice for groups constructing infrastructure initiatives.
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