David Horowitz ’s $ 300 m crypto fund , a16z , has made its first investment , buying 6 % of MakerDAO 's MKR token ##s for $ 15 m , paid over three years . MKR is currently trading at $459 with a total supply of 1 million. The purchase gives a16z a share in MakerDAO 's other crypto , the new stablecoin . This helps dai maintain its peg with the US dollar . Financial and regulatory support of dai were the main drivers of the purchase , according to a16z . Both the fund and Horowitz will offer MakerDAO sales , marketing and business development services .
David Horowitz ’s $ 300 m crypto fund , a16z , has made its first investment , buying 6 % of MakerDAO 's MKR token ##s for $ 15 m , paid over three years . The purchase gives a16z a share in MakerDAO 's other crypto , the new stablecoin . This helps dai maintain its peg with the US dollar . Financial and regulatory support of dai were the main drivers of the purchase , according to a16z . Both the fund and Horowitz will offer MakerDAO sales , marketing and business development services .