Despite news that Andreessen Horowitz closed its London crypto-focused office, the VC giant has dozens of scouts across Europe looking for early-stage startups, reports Sifted. Some scouts are said to work at companies like Poolside and 11x, the latter of which just raised a $50 million Series B led by the firm.
Though many of a16z’s scouts are based in the US , the European scouts can be found in countries such as Sweden, France, Germany, Estonia, the U.K., and Amsterdam. Some of them include Pippa Lamb, a partner at Sweet Capital, and Guillaume Roux-Romestaing, who leads a partnership at 11x, according to Sifted.
These scouts tend to do up to eight deals a year and write checks from $10k to $25k, they told Sifted. There are rules, though. For example, they are apparently not allowed to invest directly in NFTs.
A16z did not immediately respond to a request for comment.