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Andreessen Horowitz (a16z), the Silicon Valley-based enterprise capital big, has introduced the closure of its London workplace.
In accordance with a Financial Times report dated 24 January 2025, the choice comes simply two years after the agency made a high-profile entry into the UK market.
Andreessen Horowitz opened its London workplace in 2023, marking its first transfer outdoors the US. Nevertheless, lower than two years later, Andreessen Horowitz is pulling again.
https://twitter.com/AAlbaneseNY/status/1882819560585281883
“We Have Chosen To Focus On The US Given The New Administration’s Sturdy Coverage Momentum”
On the time, then-Prime Minister Rishi Sunak lauded the transfer, calling it a “testomony to our world-class universities and expertise and our sturdy aggressive enterprise surroundings.”
The agency had invested in a number of UK-based crypto initiatives, together with Arweave, Aztec, and Inconceivable, emphasizing London’s standing as a significant monetary and technological hub.
Anthony Albanese, chief working workplace at a16z, wrote on X, “We’re excited by the passion for crypto constructing and adoption within the UK and are inspired by the current optimistic coverage bulletins and actions. Nevertheless, we’ve got chosen to give attention to the US given the brand new administration’s sturdy coverage momentum and can subsequently be closing our UK workplace.”
“This doesn’t change our confidence within the UK’s rising function in crypto and blockchain. We are going to proceed to spend money on nice entrepreneurs regardless of the place they’re on the planet, together with the UK. We additionally stay prepared to assist the UK with its ongoing crypto efforts,” added Albanese.
Discover: UK Treasury Excludes Crypto Staking From Collective Investment Scheme Regulations
Andreessen Horowitz Exits UK: Challenges In UK Market
Furthermore, political shifts throughout the UK have added complexity. One UK official downplayed Andreessen Horowitz’s retreat, stating that “they had been by no means actually right here,” highlighting skepticism in regards to the agency’s long-term dedication to its London operations.
Marc Andreessen and Ben Horowitz, co-founders of the agency, have emerged as vocal supporters of Trump, advising him on know-how coverage. The agency manages $43 billion in dedicated capital and has been one of the crucial lively buyers in blockchain and digital property globally.
Albanese emphasised that the agency stays dedicated to investing in progressive entrepreneurs worldwide, together with these primarily based within the UK. Nevertheless, its operational focus will now pivot again to its residence market.
Discover: UK Cracks Down On Large-Scale Crypto Laundering Plot Involving Russian Agents
The put up Andreessen Horowitz Shuts Down London Office Amid Renewed Focus On US Crypto Market appeared first on 99Bitcoins.
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