a16z closes $2.2B Crypto Fund 5 to back builders converting blockchain infrastructure into mainstream products

a16z Crypto announced the close of Crypto Fund 5 at $2.2 billion; the vehicle was authored by managing partner Chris Dixon alongside partners Ali Yahya, Guy Wuollet and Eddy Lazzarin ^{[1] [2]}.

The firm said the new fund is designed to invest across stages and deploy capital over a longer horizon to back builders turning blockchain infrastructure into consumer and financial products; a16z also shortened the fundraising cycle to move faster in a market where trends shift quickly ^{[2] [3] [1]}.

Crypto Fund 5’s $2.2 billion size is roughly half of a16z’s record $4.5 billion Fund 4 raised in 2022, bringing total committed capital across the firm’s five dedicated crypto vehicles to about $9.8 billion; some coverage framed the close as a sign of renewed institutional confidence even as overall crypto fundraising contracts ^{[4] [1] [3]}.

The raise positions a16z to continue backing Web3 builders across stages while reallocating pace and capital deployment in response to current market conditions; the firm also promoted CTO Eddy Lazzarin to general partner as part of the team backing the fund ^{[1] [2]}.