Patrick McHenry, a former congressman from North Carolina, revealed on Wednesday that he has secured a position at the venture capital firm Andreessen Horowitz, where he will serve as a senior advisor.
In his post on X, McHenry provided limited details about his new role, except that he will be advocating for startups, which Andreessen Horowitz refers to as “little tech,” with policymakers. The company has not responded to a request for comment at this time.
McHenry spent two decades in Congress before retiring in January. During his tenure, he was chairman of the House Financial Services Committee and was known for his confrontation with then-SEC chair Gary Gensler.
Gensler had become a contentious figure in the crypto community, having filed lawsuits against cryptocurrency exchanges like Coinbase and threatening to sue others, such as Robinhood. However, the current SEC has been dropping these lawsuits and investigations.
During a hearing in September, McHenry stated that “under Chair Gensler, the SEC has become a rogue agency,” and accused the SEC chair of “regulation by enforcement.”
Meanwhile, Andreessen Horowitz, which has raised $7.6 billion in funds dedicated to crypto and web3 technology as of 2022, has been actively engaging with policy and government. Earlier this month, Brian Quintenz, who leads policy for the firm’s crypto team, announced that he will be heading the Commodity Futures Trading Commission (CFTC).
Additionally, Sriram Krishnan, a former general partner at Andreessen Horowitz, is now a senior policy advisor at the White House. Scott Kupor, one of the firm’s managing partners, has been tapped to lead the Office of Personnel Management, and Jamie Sullivan, another investor at the firm, is advising the Department of Education.
The American Dynamism practice at Andreessen Horowitz, which backs startups in defense and government technology, is also expanding its team, having recently added former Marine Daniel Penny as an investor.
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