Enterprise capital agency Andreessen Horowitz (a16z) is ready to open its first workplace outdoors of the US this yr, including to the backdrop of U.S.-based companies searching for greener pastures outdoors of the nation.
Chris Dixon, a16z’s crypto founder and managing accomplice, cited a “predictable enterprise surroundings” as one of many most important elements behind its choice to increase. The transfer comes amid a slew of regulatory actions towards crypto companies in the US in current months.
Dixon stated the choice was finalized after a “productive dialogue” with the U.Ok. prime minister along with “months of constructive conversations” with HM Treasury, U.Ok. policymakers, and the Monetary Conduct Authority. He added:
“We’re thrilled to open our first worldwide workplace in a jurisdiction that welcomes blockchain expertise and is dedicated to making a predictable enterprise surroundings by pursuing laws that each embrace web3 and shield shoppers.”
Nonetheless, Dixon stated the agency stays “closely invested” within the U.S., and can proceed to work with policymakers and regulators to push for extra regulatory readability for crypto begin ups.
Rishi Sunak — the U.Ok.’s new pro-crypto prime minister — attributed the information of a16z’s growth to having the “proper regulation and guardrails” set in place to “foster innovation” whereas nonetheless defending shoppers.
Sunak stated he was “thrilled” with a16z’s choice:
“That’s why I’m thrilled world-leading investor, Andreessen Horowitz, has determined to open their first worldwide workplace within the UK – which is testomony to our world-class universities and expertise and our robust aggressive enterprise surroundings.”
Along with the brand new workplace, a16z has additionally introduced its plan to launch a brand new “Crypto Startup College” (CSS) program in London within the spring (March to June) of 2024.
The CSS accelerator program will purpose to draw U.K. and international entrepreneurs eager on forging a profession in Web3.
The newest CSS program obtained greater than 8,000 candidates, with 26 corporations receiving an funding from a16z.
The U.Ok. workplace will even “work intently with universities” within the U.Ok. to “present expertise and assist” for blockchain-based golf equipment and to encourage blockchain expertise to be taught extra within the classroom.
Basic Associate Sriram Krishnan shall be answerable for the brand new workplace in London.
On June 11, a16z led a $43 million Sequence A fundraise for London-based Gensyn, a blockchain-based market connecting patrons and sellers of computing energy.
Cointelegraph reached out to a16z for remark however didn’t obtain an instantaneous response.