Affected by the bear market and dividends, the top cryptocurrency venture capital fund's investment portfolio has shrunk significantly.

BlockBeats News, April 16th, according to Fortune report, the portfolio values of top crypto venture funds such as Paradigm, Pantera Capital, and a16z have shrunk due to the market downturn and distributions to investors. The total assets under management of a16z Crypto's four cryptocurrency funds plummeted by nearly 40% to $9.5 billion between 2024 and 2025, partly because a16z Crypto started returning capital to investors from its first three funds. Multicoin Capital's AUM, on the other hand, has more than halved, now standing at around $2.7 billion.