- It’s the venture capital firm’s first international division
- The decision in favor of the U.K. was made after talks with the prime minister
- A16z cited a “predictable” regulatory climate
A16z plans to expand into European markets. A venture capital firm is going to open an office in London. The firm attributed its choice to the “predictable” regulatory climate in the country.
According to Chris Dixon, managing partner of a16z. According to him, the regional unit will start work by the end of this year.
The decision in favor of London was made after a “productive dialogue” with British Prime Minister Rishi Sunak. The politician is indeed positive about cryptocurrencies and Web3.
“We are very pleased to open our first international office in a jurisdiction that welcomes blockchain technology and aims to create a predictable business environment, following rules that both embrace Web3 and protect investors,” Dixon said.
At the same time, the managing partner sought to debunk rumors of a “shift in priorities” at the company. According to him, Andreessen Horowitz will continue to actively invest in the U.S..
The Prime Minister’s office also commented on the news.. Sunak said he was thrilled with a16z’s decision.
Interestingly, the company cited the “predictable” regulatory environment factor specifically when explaining its choice of country for expansion. And it is in the UK, lawmakers announced their intention to equate investment in cryptocurrency with gambling.