Andreessen Horowitz is to close its London office barely a year after launching it as a blockchain and cryptocurrency hub.
The Silicon Valley investor also known as a16z has pulled back from the hub it launched in 2023 to focus on the US market following the election of Donald Trump, seen as a crypto-friendly President.
In 2023 the venture capital giant announced plans to open its first international office in London and work closely with universities throughout the UK to help provide talent and support to develop blockchain ‘clubs’.
“The UK has deep pools of talent, world-leading academic institutions, and a strong entrepreneurial culture,” said a16z crypto founder and managing partner Chris Dixon at the time against a backdrop of American regulators cracking down on digital assets.
Anthony Albanese, a managing director at the group, wrote on X: “We’re excited by the enthusiasm for crypto building and adoption in the UK and are encouraged by the recent positive policy announcements and actions.
