What a16z’s $9B in new capital tells us about 2022💸; Credit cards with a crypto twist for SMEs in emerging markets 💳; DAO makes an $18.33M seed investment in DeFi startup 🤯

Good Morning FinTech, January 10

Good morning Everyone,

And happy Monday! I hope you managed to relax a bit over the weekend, and now you’re fully charged for the new week. To make a brilliant start, here’s a mix of 3 super interesting & extra hot FinTech stories to explore today:

What a16z’s $9B in new capital tells us about 2022💸

The money pile💰 Private-market heavyweight and one of the leading venture capital firms in the world Andreessen Horowitz has just announced that it has closed $9 billion in new capital for its venture capital, growth-stage, and biotech-focused vehicles.

One can remember that the firm, better known as just a16z, also raised a $2.2 billion crypto-focused fund last year.

Tech focus 🔎 As the firm said in the announcement, they believe in the future and think it will be tech-driven. Ben Horowitz elaborated further:

At Andreessen Horowitz, we specifically believe in the technology-enabled future. There are no more worthwhile endeavors than our most brilliant minds taking great risks to improve the world by doing something larger than themselves. As my partner Marc describes in Technology Saves the World, without great advances in technology, life on Earth certainly will not get better and may well get worse. 

More money than ever 🤯 For the perspective, it must be noted that the VC firm’s last generation of funds — including its 7th venture fund worth $1.3 billion, its second growth fund worth $3.2 billion, and its third bio-focused fund worth $750 million — were worth just a touch over half of its latest aggregate fundraise.

Hence, it’s clear that a16z is not only refilling its tanks - it’s also raising more capital than ever. And this tells us something about the future.