Andreessen Horowitz, the venture capital firm also known as a16z, signed a lease for a new office in Miami Beach as the company seeks to build its presence in an area known as a crypto hub.
The firm is leasing a floor at Barry Sternlicht’s Miami Beach office at 2340 Collins Ave., according to a statement Thursday. The deal includes a private terrace for Andreessen and an additional communal terrace for other tenants, such as Sternlicht’s Starwood Capital Group and BTIG.Wealth for You
Andreessen is also planning to open new offices in New York and Santa Monica, the company said in a blog post Thursday. The venture capital firm, which already has spots in San Francisco and Menlo Park, California, will primarily work virtually but will maintain physical offices.
“Our headquarters will be in the cloud and we will continue to create physical offices globally where needed to support our teams and partners,” the company said.
The Miami area has benefited from a surge in demand from major tech and finance giants in recent years. Law firm Sidley Austin LLP recently announced a new office in the city. Last month, Ken Griffin’s Citadel said it would relocate its headquarters there from Chicago.
Andreessen’s move “is really powerful,” said Brandon Charnas, co-founder of Current Real Estate Advisors. “Planting their flag in Miami, and especially in this building, is hugely important and a massive signal to founders, engineers, other investment firms that Miami is here to stay.”
Current, which handled the lease, has a Miami office run by Alec Kirschner.
Andreessen, which earlier this year raised $4.5 billion for a cryptocurrency fund, will gain an office in a region that’s been working to establish itself as one of the centers for the crypto industry. Miami Beach hosted a multiday Bitcoin conference earlier this year and Miami’s mayor has been a supporter of the crypto industry.
The venture capital firm’s Katherine Boyle sung Miami’s praises in a newsletter last year, noting that she had returned to Florida again.
“I’m betting on movement,” Boyle wrote. “Not only a Miami movement, but a belief that those moving are not running from the past but towards something grander, truer, and more beautiful than we’ve ever known.”
