US venture capital firm Andreessen Horowitz will open its first international office in London with a focus on blockchain and cryptocurrency startups.

The company will also launch a crypto startup school accelerator programme in the UK in 2024, similar to ones it has launched in the US. The programme will work with UK universities to support the development of blockchain technology.

The company's crypto practice currently manages over £6 billion of committed capital.

Andreessen Horowitz was an early backer of Facebook, Twitter, Coinbase and Stripe. It has invested in a number of UK-based crypto companies including Arweave, Aztec, and Improbable.

The company added that it will seek the appropriate regulatory permissions to ensure it conducts its activities in the UK in compliance with the applicable regulations.

Commenting on the news Chris Dixon, founder of Andreessen Horowitz said that the UK has a strong entrepreneurial culture and a lot of talent.

“Following a productive dialogue with the Prime Minister, and months of constructive conversations with HM Treasury, UK policymakers, and the Financial Conduct Authority, 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 added.

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