a16z Releases Plans for New Blockchain Startups and Divisions

Venture capital firm Andreessen Horowitz (a16z) said it’s opening its first international space in London and it’s also starting what it’s calling the Crypto Startup School, an accelerator program designed to help digital currency startups garner the funds and resources they need to stay afloat. The company also said it wants to expand its present blockchain program.

a16z to Open New London Office

a16z is closely working with universities throughout the London area to garner the talent and support necessary to establish blockchain clubs and curriculum throughout the region. In a statement, Chris Dixon – the founder and managing partner of a16z – said:

The UK has deep pools of talent, world-leading academic institutions, and a strong entrepreneurial culture. Following a productive dialogue with the Prime Minister, and months of constructive conversations with [the] HM Treasury, U.K. policymakers, and the Financial Conduct Authority, we’re thrilled to open our first international office in a jurisdiction that welcomes blockchain technology and is committed to creating a predictable business environment by pursuing regulations that both embrace web3 and protect consumers. We look forward to helping foster the growth of the U.K. web3 ecosystem while the proper regulations come online.

U.K. prime minister Rishi Sunak – a long-time blockchain and bitcoin fan – also threw his two cents into the mix, commenting:

As we cement the U.K.’s place as a science and tech superpower, we must embrace new innovations like web3, powered by blockchain technology, which will enable startups to flourish here and grow the economy. That success is founded on having the right regulation and guardrails in place to protect consumers and foster innovation. While there’s still work to do, I’m determined to unlock opportunities for this technology and turn the U.K. into the world’s Web3 center… That’s why I am thrilled world-leading investor Andreessen Horowitz has decided to open their first international office in the U.K., which is testament to our world-class universities and talent and our strong competitive business environment.

Working with More Small Businesses

The London office is going to be opening in late 2023 and will be run by general partner Sriram Krishnan. Thus far, the company has invested in a wide array of crypto firms including Aztec and Improbable. In a separate statement, the company mentioned:

We are also excited to announce our newest investment in U.K.-based Gensyn. Founded by computer science and machine-learning research veterans Ben Fielding and Harry Grieve, Gensyn’s decentralized compute protocol will enable developers to build state-of-the-art AI systems on any connected hardware. Their novel cryptographic verification system allows users to trust that the protocol’s machine-learning work was completed correctly.

The relationship between blockchain and the U.K. has grown heavily in recent months given the nation was one of the first to implement hardcore crypto regulation after the fall of FTX.