Famed US VC firm Andreessen Horowitz plans to open an office in London, it announced on Monday.
The office will be set up by the crypto arm of the giant investment firm and led by general partner Sriram Krishnan.
Andreessen Horowitz will also run its next crypto accelerator programme in London in spring 2024, and says it plans to work closely with UK universities to support and develop blockchain talent.
The move comes after "months of constructive conversations" with the UK government and regulators, Andreessen Horowitz managing partner Chris Dixon said in a statement. "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."
This is a big win for UK prime minister Rishi Sunak, who wants to make the country a "tech superpower" — and also, it now seems, a "Web3 centre".
In a statement accompanying the news, Sunak said: "As we embrace the UK's place as a science and tech superpower, we must embrace new innovations like Web3, powered by blockchain technology, which will enable startups to flourish here and grow the economy.
“That success is founded on having the right regulation and guardrails in place to protect consumers and foster innovation. While there’s still work to do, I’m determined to unlock opportunities for this technology and turn the UK into the world’s Web3 centre."
