Former North Carolina Congressman Patrick McHenry announced Wednesday that he landed a job with VC agency Andreessen Horowitz. He might be a Senior Advisor.
His publish on X mentioned little about what the job entails, besides to be advocating for startups (which a16z likes to name “little tech”) with policymakers. A16z didn’t instantly reply to a request for remark.
McHenry spent 20 years in Congress earlier than retiring in January. As Chairman of the Home Monetary Companies Committee he was maybe greatest identified for dressing down then SEC chair Gary Gensler.
Gensler had notably develop into a boogeyman within the crypto world, submitting lawsuits towards crypto exchanges like Coinbase, and threatening to sue others like Robinhood. The present SEC is busy dropping these fits and investigations.
“Beneath Chair Gensler, the SEC has develop into a rogue company,” mentioned McHenry during a hearing in September, accusing the SEC chair of “regulation by enforcement.”
In the meantime, 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 recently. Earlier this month, Brian Quintenz, who leads coverage for a16z’s crypto staff, mentioned he’s being appointed to go the Commodity Futures Buying and selling Fee (CFTC).
Plus Sriram Krishnan, a former basic accomplice at a16z, can be now a White Home senior coverage advisor; Scott Kupor, one of many agency’s managing companions, was tapped to lead the Workplace of Personnel Administration; and Jamie Sullivan, one other investor on the agency, is said to be advising DOGE.
a16z’s burgeoning American Dynamism apply, which backs startups in protection and authorities tech, can be doing plenty of hiring, most not too long ago including former Marine Daniel Penny as an investor.