Venture capital (VC) giant Andreessen Horowitz (a16z) is scaling back its high-profile push into the UK crypto market, as reported by The Financial Times, to refocus its efforts on the US under President Donald Trump’s administration.
The firm, which opened its first office outside the US in London in 2023, had touted its expansion as a significant commitment to the UK’s crypto industry.
However, two sources with knowledge of the firm’s discussions revealed that a16z has recently signaled to UK entrepreneurs and policymakers that it plans to reduce the time and resources allocated to its British operations.
Trump’s administration has taken a crypto friendly stance. President Trump announced on January 23 that he would be embracing cryptography. The Executive Order was signed To promote digital assets and to explore the development of a digital stockpile in the US.
Sriram Krishnan, initially appointed to lead a16z’s UK operations, stepped back from his London-based role last year and recently joined the Trump administration, further underscoring the firm’s shift in priorities.
Marc Andreessen & Ben Horowitz, founders of Andreessen Horowitz, have been seen as Trump supporters and advisors on tech policy.
The US is Back
Andreessen Horowitz’s London office, which opened with fanfare and endorsements from then-Prime Minister Rishi Sunak, was seen as a vote of confidence in the UK’s status as a global fintech hub.
Sunak described the firm’s arrival as a testament to the UK’s “world-class universities and talent”And its “strong competitive business environment.”
The company has made investments in UK-based companies such as Arweave Aztec and Improbable. However, many of its deals have been led by the US headquarters.
Chris Dixon, who leads a16z’s crypto investments, had praised London as a “major financial hub”The aforementioned is accompanied by the. “very attractive place for people to live” during the firm’s initial UK expansion.
Recent conversations with entrepreneurs in London suggest, however, that the company is increasingly decreasing its London presence and relying on occasional visits by US-based partners.
Andreessen Horowitz’s capital commitments total $43 billion. Data provided by DefiLlama indicates that nearly 200 of the VC funds deals are related to crypto companies, with a particular preference given to teams developing infrastructure projects.
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