a16z Renames Crypto Unit to a16z Frontier as Blockchain Investing Loses Favor

Andreessen Horowitz said Thursday it is renaming its digital asset practice from a16z Crypto to a16z Frontier, broadening its mandate beyond blockchain to AI, robotics and "new kinds of networks" connecting humans and machines. The unit, led by Chris Dixon, has raised nearly $10 billion across five funds since launching in 2018 and backed major sector wins including Coinbase. The firm said it is not abandoning crypto; Dixon wrote in a blog post that blockchain technology could "give new networks native economic capabilities." General partners on the rebranded team include Dixon, Eddy Lazzarin and Guy Wuollet. Ali Yahya, who joined the crypto strategy as its first investor in 2017, has left the firm, according to The Information. The change signals retreating enthusiasm for crypto-focused venture investing after years of difficulty extending the technology's utility beyond trading and speculative assets.