Newly released UK files reveal how the Department of Business and Trade labored for five years to persuade Andreessen Horowitz (a16z), a leading U.S. firm, to set up shop in London. Despite their efforts, a16z left just 18 months after establishing an office, as per the evidence uncovered by Sifted.
In 2023, a16z inaugurated a crypto office in London, citing a more favourable UK climate for crypto activities in stark contrast to the restrictive U.S. environment under the Biden administration. However, the UK’s progress on the crypto arena was sluggish, and the recent change in the government, now under Labour leadership, seems to have a dampened focus on the sector. This, in conjunction with the Trump administration’s welcome, has seemingly led to a16z’s exit from the UK.
This article will continue to be updated with new developments.
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