U.Okay. paperwork present that the U.Okay.’s Division of Enterprise and Commerce spent 5 years convincing Andreessen Horowitz to create a presence in London, just for the U.S. agency to go away 18 months after launching an workplace, in keeping with authorities paperwork obtained by Sifted.
In 2023, a16z launched a crypto workplace in London, deeming the crypto setting within the U.S. underneath Biden on the time as unfriendly and the U.Okay. extra versatile to work with. However progress on crypto was gradual within the U.Okay. and now the brand new Labour authorities appears much less targeted on it. This, mixed with enthusiasm from the Trump administration, contributed to a16z leaving the nation, sources advised Sifted.
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