Andreessen Horowitz is set to return from UK crypto investment

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Andreessen Horowitz’s venture capitalists are discussing plans to roll back its UK viewership expansion, as the Silicon Valley investor seeks to refocus on the US crypto industry following the election of Donald Trump.

The group made a file A high-level entry into London In 2023, it opened its first office outside the US focusing on the UK cryptocurrency industry amid a crackdown on digital assets by US regulators.

Two people with knowledge of recent discussions said the venture capital firm has signaled to local entrepreneurs and policymakers that it will expand the time and money it intends to invest in the country.

Partner Originally tapped to lead the UK effort, Sriram Krishnan stepped away from his role in London last year before leaving the firm entirely to join the Trump administration in recent weeks.

The company has brought its focus on crypto deals to the US, where it sees more investment opportunities, the people said. Marc Andreessen and Ben Horowitz, the company’s founders, have become supporters of Trump, while advising him on technology policy.

Andreessen Horowitz did not respond to requests for comment.

The key comes as Trump signed an executive order on Thursday aimed at promoting Cryptocurrencies In the United States and working to develop a national store for digital assets.

Prices in tokens like Bitcoin have been rising since Trump’s election, under the belief that the new administration will call for light touch of the crypto sector.

Andreessen Horowitz It opened its London office with official fanfare two years ago, with then-Prime Minister Rishi Sunak saying he was “delighted” at the group’s arrival, and that the move was “testament to our universities, our world-class talent and our strong competitive business environment.”

At the time, Andreessen Horowitz, which has $43 billion of committed capital, has made much of its payout to the UK, where it has invested in a number of UK-based crypto companies, including Arweave, Aztec and Improbable. .

“London is a major financial centre, it’s a major tech hub and frankly it’s a very attractive place for people to live,” Chris Dixon, who leads Andreessen Horowitz Crypto, told the Financial Times in 2023.

One UK official downplayed US investor’s reduced ambitions in the country, saying: “They were never here.”

“UK [Andreessen Horowitz] The investments I know of are all led from the United States. “

Andreessen Partners is still looking for deals in the UK, but more often visits from the US, according to other venture capitalists.