#ethriumsupport Venture capital powerhouse Andreessen Horowitz (a16z) has deepened its bet on Ethereum restaking protocol EigenLayer, investing an additional $70 million to support the launch of EigenCloud, a new platform aimed at bringing verifiability to a broader range of decentralized and traditional applications.
The investment, made through a16z’s Crypto Fund IV, builds on the firm’s prior $100 million Series B funding round in February 2024, and underscores a continued commitment to EigenLayer’s growing ecosystem.
EigenLayer, currently Ethereum’s largest restaking protocol with over $12 billion in total value locked, enables ETH holders to restake their assets to secure third-party services. These include Autonomous Verifiable Services (AVSs) such as rollups, oracles, data availability layers, and AI computation frameworks.
Key highlights:
Andreessen Horowitz invests $70M in EigenLayer to support launch of EigenCloud.
EigenCloud introduces “verifiability-as-a-service” for off-chain and on-chain applications.
The platform leverages $12B in restaked assets to secure $2B in decentralized services.