Andreessen Horowitz's crypto investment arm, a16z crypto, is raising its fifth cryptocurrency fund with a target size of approximately $2 billion, aiming to complete fundraising by the first half of 2026. This new fund is smaller than the $4.5 billion fund established in 2022 but will continue to focus on blockchain investments. The fundraising effort comes amid a broader downturn in the crypto market, with some venture capital firms adjusting their strategies and expanding investments into areas like AI.