Bored Ape Yacht Club Creator reportedly in investment talks with a16z

Venture capital firm Andreessen Horowitz is reportedly in investment talks with Yuga Labs, the team behind Bored Ape Yacht Club.

An investor is interested in bored monkeys

Yuga Labs is rumored to be seeking investment from Andreessen Horowitz.

In an article from FinancialTimes On Thursday, undisclosed sources corroborated rumors that the Bored Ape Yacht Club creator is raising funds from venture capitalists. The sources said California-based Andreessen Horowitz is one of several companies looking to take a multi-million dollar stake in Yuga Labs.

According to the same sources, the investment by Andreessen Horowitz would value Yuga Labs between 4 and 5 billion dollars. The same figure was quoted in previous funding rumors circulated by NFT influencer Nick on The Alpha Owl podcast almost a week before.

Andreessen Horowitz is one of the most successful venture capitalists in the United States and was an early investor in several top performing technology companies such as Facebook, Twitter and Airbnb. However, more recently, the company has moved into crypto investments, taking major stakes in crypto exchange Coinbase and NFT market OpenSea.

The fact that the Bored Ape Yacht Club funding rumors were published by a major publication adds credence to their authenticity; however, no official source has confirmed them at this time. Previous rumors from Twitter user rdm41 that Yuga Labs would offer a stake in the company via an APE token offering were not mentioned by the Financial Times’s sources. Whether Yuga Labs seeks to raise funds through a traditional stock offering or other means remains to be seen.

Yuga Labs had not responded to Crypto Briefing’s request for comment at press time.

Disclosure: At the time of writing this article, the author of this article owned ETH and several other cryptocurrencies.