Chris Dixon Tops Forbes’ Midas List After Amazing 17x Gain
- Chris Dixon has recently climbed to the top of the Forbes Midas List.
- Dixon turned a $350 million crypto fund into an unrealized profit of $6 billion in 2021.
- The company is already raising funds for the world’s largest crypto fund.
Recently, crypto venture capital firms have been investing at unprecedented rates. Andreessen Horowitz is no exception to this new trend and has been making massive returns on their investments.
Andreessen Horowitz’s (a16z) general partner, Chris Dixon, has recently climbed to the top of the Forbes “Midas List”. This list is full of the world’s top venture capital investors in 2022.
It is not often that we see crypto or Web3 funding round go by without a16z being involved in some way or another. According to a report released on April 12, Dixon turned a $350 million crypto fund into an unrealized profit of $6 billion in 2021. This is an astonishing 17x gain!
Just to put this accomplishment into perspective, the whole cryptocurrency market only managed to gain 200% from $780 billion in January 2021, to $2.3 trillion at the end of December in 2021.
A16z got into crypto pretty early on by leading a $25 million funding round into Coinbase in 2013. The firm held a 15% stake by the time Coinbase went public in 2021. On the first day of trading, these shares were worth $10 billion. This resulted in an astonishing 60x return for the company.
This all happened even before Dixon launched his crypto fund in 2018 with $300 million raised in total.
Dixon explained in a rare interview with Forbes that “My job is not to predict the future. My job is to be smart enough to know who the smart people are who will”. The company is already raising funds for the world’s largest crypto fund that will be worth about $4.5 Billion.
Read more: https://coinquora.com/chris-dixon-tops-forbes-midas-list-after-amazing-17x-gain/
Text source: News – CoinQuora – Latest Cryptocurrency and Block
