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Tuesday, September 27, 2022

Chris Dixon Of a16z Is At The Top Of The Forbes Midas List

Chris Dixon is at the top of the ‘Midas List’ of Forbes as the most prosperous and successful venture capital investor of this year. The majority of the venture capital companies of crypto have been under the practice of investing at bizarre rates currently. Out of them, Andreessen Horowitz is a leader who is incurring a lot of returns from his investments. 

Chris Dixon Turned $350 Million Into $6 Billion In One Year

Seldom conducts a funding round of Web3 or crypto and finalizes it without involving a16z. As per the report of Tuesday, the fund of $350 million known as the Crypto Fund I was turned by Chris Dixon into both unrealized and realized profits worth $6 billion in the previous year. This data means there was a gain of 17.7x as per sources who know the financials of the fund. 

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The entire market of cryptocurrency could manage a profit of 200% from a value of $780 billion in January last year to $2.3 trillion in December 2021. There was early crypto for A16z which resulted in a funding round of $25 million into Coinbase in the year 2013. Coinbase was launched in April last year and at that time the company was in a possession of 15% stake and which resulted in further 14 rounds of funding. 

The worth of the shares was approximately $10 billion and that too on the very first trading day and it led to a return of 60x for the firm. However, this scenario was way before the launch of the crypto fund of Dixon which happened in 2018 with an amount of $300 million raised all over. 

In the words of Chris Dixon, his job is not to know what the future beholds for the company but rather to be smart and invest in other smart people. The firm is working to raise a fund of $4.5 billion which will be the world’s largest fund.

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