UK documents show that the UK’s Department of Business and Trade spent five years convincing Andreessen Horowitz to create a presence in London, only for the US firm to leave 18 after launching an office, according to government documents obtained by Sifted.
In 2023, a16z launched a crypto office in London, deeming the crypto environment in the U.S. under Biden at the time as unfriendly and the U.K. more flexible to work with. But progress on crypto was slow in the U.K. and now the new Labour government seems less focused on it. So a16z’s motivation for continuing its London office grew thin, sources told Sifted.
