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Andreessen Horowitz boosts its crypto bet with 'start-up school'

Chris Dixon, General Partner at Andreessen Horowitz, discusses cryptocurrency during the TechCrunch Disrupt forum in San Francisco, October 2, 2019.

Kate Munsch | Reuters

Bitcoin's buzz may have faded but Andreessen Horowitz is still betting on cryptocurrency and its underlying technology.

The Silicon Valley venture capital firm is launching a school to coach entrepreneurs on building blockchain and cryptocurrency companies, Andreessen Horowitz announced Friday. The firm, founded by Ben Horowitz and Marc Andreesseen, has been one of the most active mainstream investors in the space with a dedicated $350 million fund launched last year. It's also a founding member of the Libra Association — the controversial cryptocurrency project spearheaded by Facebook.

While bitcoin is still the most popular use case for blockchain technology, general partner and co-head of the crypto fund Chris Dixon said he sees value beyond digital money. Of the technologies he has come across, Dixon "strongly believes" crypto could "have the most impact in the world."

"If this works the way we hope it does, it will be a new way to build start-up," Dixon told CNBC in a phone interview. "You can build social networks and marketplaces using a lot of these concepts that have pretty profound business and social societal implications."

Dixon, who is on the board of Coinbase, said there are "no strings attached" for founders, and they won't need to give up an equity stake to participate. The seven-week free course, first announced at TechCrunch Disrupt earlier this year, will officially kick off in February and teach roughly 40 entrepreneurs about technology. When it wraps up, the courses will be available online for free.

"Our general view is if we build goodwill, people will want to come to work with us — so it's in that spirit," Dixon said. "If they do go start a company, we hope we'll be one of their first phone calls but there's no re...

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