"Top outfits like Paradigm and Pantera Capital saw their assets under management shrink amid the downturn, according to previously unreported filings from the Securities and Exchange Commission."
"Veteran crypto venture capitalists have weathered their fair share of bear and bull markets, watching their holdings soar in value during the NFT hype cycle of 2021 to only see their portfolios plummet in the ensuing 'crypto winter.'"
"The total assets under management for a16z crypto plummeted almost 40% between 2024 and 2025 to $9.5 billion, even as its parent Andreessen Horowitz saw its holdings balloon past $100 billion."
"The net DPI, or distributions to paid-in capital, for a16z's first crypto fund was 5.4, according to Newcomer, showcasing stellar returns compared to other VCs who raised in 2018."
In 2025, major crypto venture capital firms like Paradigm and Pantera Capital faced substantial declines in assets under management due to market volatility. The crypto market's unpredictable nature often leads to drastic price changes influenced by public figures. Despite these fluctuations, seasoned investors understand that short-term portfolio changes do not accurately reflect performance. For instance, a16z crypto's assets dropped nearly 40% to $9.5 billion, partly due to capital distributions to investors, showcasing the complex dynamics of venture capital in the crypto space.
Read at Fortune
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