UK Government Courted A16Z for Five Years - Documents Reveal

Andreessen Horowitz’s Short-Lived London Venture

Government records from the U.K. reveal a five-year effort by the Department of Business and Trade to attract Andreessen Horowitz to establish operations in London.

However, the U.S.-based venture capital firm ultimately departed just 18 months after initially opening a London office, as reported by Sifted following a review of official documents.

Initial Rationale for the U.K. Office

In 2023, a16z, as Andreessen Horowitz is also known, initiated a crypto-focused office in London.

The decision stemmed from a perceived unfavorable regulatory climate for cryptocurrency within the United States under the Biden administration.

Conversely, the U.K. was viewed as offering a more accommodating environment for crypto-related ventures at that time.

Factors Contributing to the Departure

Despite the initial optimism, the advancement of crypto legislation proved to be slower than anticipated in the U.K.

Furthermore, a shift in political focus with the incoming Labour government, coupled with increased support for the crypto industry from the Trump administration, played a role in a16z’s decision to withdraw from the U.K.

Sources familiar with the matter confirmed to Sifted that these factors were instrumental in the firm’s relocation.

Note: This article has been updated since its original publication.