May 25 Reuters Venture capital giant Andreessen Horowitz said on Wednesday it has raised 4.5 billion for its fourth cryptocurrency fund, bringing its total funds raised for digital currency investments so far to more than 7.6 billion.

About 1.3 billion from the fund will be used to invest in seed rounds of startups and 3 billion for venture investments, the company said in a blog post.

The latest funding comes on the heels of sharp fall in the value of cryptocurrencies in recent weeks, with bitcoin losing over a third of its value in just two months.

Andreessen Horowitz unveiled a 2.2 billion fund to invest in crypto networks in June last year. The firm raised 9 billion across three new funds to invest across startups in different sectors earlier this year.

Reporting by Sohini Podder in Bengaluru; Editing by Shounak Dasgupta

Source Reuters