Venture capital firm Andreessen Horowitz on Thursday launched a $2.2 billion fund with a focus on crypto networks, the company said in a blog post.

The Silicon Valley-based VC firm, founded by Marc Andreessen and Ben Horowitz, announced that it plans to deploy that capital across blockchain and digital asset startups.

Andreessen Horowitz also said Bill Hinman, the former director of the U.S. Securities and Exchange Commission's (SEC)division of corporation finance, will join its crypto arm as an advisory partner.

Hinman has worked as the regulator's point man on cryptocurrencies.

Tomicah Tillemann, who served as a senior adviser to U.S. President Joseph Biden and two Secretaries of State and was chairman of the Global Blockchain Business Council, will join as global head of policy, Andreessen Horowitz said.

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