Former North Carolina congressman Patrick McHenry introduced Wednesday that he landed a job with VC agency Andreessen Horowitz. He shall be a senior advisor.
His put up on X mentioned little about what the job entails, besides to be advocating for startups (which a16z likes to name “little tech”) with policymakers. Andreessen Horowitz didn’t instantly reply to a request for remark.
McHenry spent 20 years in Congress earlier than retiring in January. As chairman of the House Financial Services Committee, he was maybe greatest identified for dressing down then SEC chair Gary Gensler.
Gensler had significantly grow to be a boogeyman within the crypto world, submitting lawsuits in opposition to crypto exchanges like Coinbase and threatening to sue others like Robinhood. The present SEC is busy dropping these fits and investigations.
“Under Chair Gensler, the SEC has grow to be a rogue company,” mentioned McHenry throughout a listening to in September, accusing the SEC chair of “regulation by enforcement.”
Meanwhile, a16z, which has raised $7.6 billion in funds devoted to crypto/web3 tech as of 2022, has been embedding itself into all issues coverage and authorities these days. Earlier this month, Brian Quintenz, who leads coverage for a16z’s crypto group, mentioned he’s being appointed to move the Commodity Futures Trading Commission (CFTC).
Plus, Sriram Krishnan, a former basic accomplice at a16z, can also be now a White House senior coverage advisor; Scott Kupor, one of many agency’s managing companions, was tapped to guide the Office of Personnel Management; and Jamie Sullivan, one other investor on the agency, is mentioned to be advising DOGE.
Andreessen Horowitz’s burgeoning American Dynamism follow, which backs startups in protection and authorities tech, can also be doing a variety of hiring, most lately including former Marine Daniel Penny as an investor.
