When They Zig, You Zag

You read in today’s daily Brew how Silicon Valley power broker Andreessen Horowitz (sometimes called a16z) is restructuring in part to make bigger crypto bets. Here’s the why.

The firm will have all 150 a16zers register as financial advisers so it can sidestep SEC requirements that cap VC’s “high risk” investments (a category that includes cryptos) at 20% of total capital.

• a16z, ever the techno-evangelist group, was an early believer in crypto. It invested in Coinbase in 2013 and has continued to place crypto bets, even in a bear market. The firm clearly still believes in the technology and wants to expand its portfolio.

+ Related: Yesterday, the SEC released much anticipated guidelines as to which digital assets are securities.

SoftBank, u up?

Forbes reports a16z has also raised a $2-2.5 billion fund to head off gargantuan rivals throwing down hundred-million-plus tech bets. You know, the kind SoftBank’s become the poster child for.

Yesterday, Bloomberg gave an update on that poster child: It’s chasing an additional $15 billion to bolster its already decent-sized $100 billion tech fund.