Venture capital giant Andreessen Horowitz, also known as a16z, is reportedly planning to raise approximately $10 billion targeted primarily at investments in artificial intelligence and defense, notably excluding any crypto-focused funds.

According to a report from the Financial Times, citing unnamed sources, the planned $10 billion raise could allocate $6 billion for established businesses, $1.5 billion each for its AI applications and infrastructure funds, with over $1 billion earmarked for a defense-oriented vehicle.

The decision not to mention crypto-focused investments is striking, given a16z’s influential role in the digital asset sector. The firm has historically supported major players such as Coinbase, Uniswap, and Dapper Labs, and has been active in lobbying for favorable crypto regulations in the US.

Despite this exclusion, a16z’s investment in the crypto ecosystem isn’t completely over. Earlier in the month, the firm backed Jito, a liquid staking protocol, with a $50 million investment, and recently announced a $55 million investment in LayerZero, a company specializing in cross-chain messaging solutions.

Joseph Lubin, Ethereum’s co-founder, stressed the critical role of venture capital in ecosystem development while acknowledging some criticisms about such firms potentially extracting value from the space. He reassured that their involvement aims to also push towards greater decentralization in the industry.

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