The Coterie, which lets founders access funds from Coatue, a16z, and others to sidestep illiquid stock, raised a $40M Series A led by a16z at a $100M+ valuation (Gillian Tan/Bloomberg)

Berber Jin / Wall Street Journal:
Sources: a16z’s flagship crypto fund lost ~40% of its value in H1 2022, above the 10%-20% losses at rival funds; a16z has dramatically slowed crypto investments  —  Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’  —  Crypto Crashed, Coinbase’s Stock Followed: What Went Wrong

Reed Albergotti / Semafor:
Sources: Andreessen Horowitz is the investor behind Android founder Andy Rubin’s new hardware startup Smart Things  —  Reed is Semafor’s Technology Editor, joining us from the Washington Post.  Sign up for the Semafor Tech newsletter to get his scoops and coverage on the industry’s biggest stories in your inbox twice a week.

Jacquelyn Melinek / TechCrunch:
Aztec Network, which is developing an “encrypted version of Ethereum”, raised a $100M Series B led by a16z and plans a testnet within 12 months  —  Aztec Network, a privacy layer for web3, has raised $100 million in a Series B round led by Andreessen Horowitz (a16z) …

Kyle Wiggers / TechCrunch:
MotherDuck, which plans to commercialize its lightweight database DuckDB, raised $47.5M across a seed and Series A led by Redpoint and a16z, respectively  —  Jordan Tigani — a founding engineer at Google BigQuery, Google’s fully managed data analysis platform — was working as the chief product officer …

Gillian Tan / Bloomberg:
New York-based Bilt, which offers a loyalty program and credit card to convert rent payments into points, raised $150M led by Left Lane at a $1.5B valuation  —  Bilt Rewards, which operates a loyalty program and credit card that converts rent payments into points, said its valuation more than quadrupled to $1.5 billion.

Kenrick Cai / Forbes:
Sources: Stability AI, the startup behind Stable Diffusion, is in talks to raise $100M; Coatue proposed a $500M valuation and Lightspeed offered a $1B valuation  —  With the image generator Stable Diffusion, you can conjure within seconds a potrait of Beyoncé as if painted by Vincent van Gogh …