- Predictable business environment was the leading factor behind the decision
- a16z is also opening a Crypto Startup School in London in 2024
Andreessen Horowitz (a16z) has become the latest in a string of crypto-friendly entities seeking greener pastures outside the US. The world’s biggest venture capital firm announced the launch of an office outside the country.
The firm’s crypto founder Chris Dixon named a “predictable business environment” as the leading factor behind the decision, which comes against the backdrop of excessive enforcement actions against US-based crypto companies, according to a press release.
UK “welcomes” blockchain technology
According to Dixon, the parties involved finalized the decision to open a London office following “productive dialogue” with UK Prime Minister Rishi Sunak and extensive, but constructive talks with representatives of the UK FCA, HM Treasury, and policymakers. He said:
We’re thrilled to open our first international office in a jurisdiction that welcomes blockchain technology and is committed to creating a predictable business environment by pursuing regulations that both embrace web3 and protect consumers.
Dixon assured the company wasn’t leaving the US, remains invested there, and will keep making efforts to cooperate with regulators on achieving further clarity for crypto firms.
Sunak “thrilled” with the decision
Sunak, who is also pro-crypto, explained a16z decided to expand to the UK because his country has the proper guidelines and regulation to promote innovation, but not at the expense of consumer safety. He commented:
I am thrilled world-leading investor, Andreessen Horowitz, has decided to open their first international office in the UK – which is testament to our world-class universities and talent and our strong competitive business environment.
Firm also opening crypto school in London
a16z also intends to open a new “Crypto Startup School” (CSS) in the English capital next year. It will target domestic and international entrepreneurs who want to develop a career in blockchain and Web3. More than 8,000 people applied for the most recent CSS program, and a16z invested in over two dozen companies.
Contributors
