(Reuters) - Venture capital giant Andreessen Horowitz is looking to raise a fund of as much as $1 billion to invest in cryptocurrencies and crypto start-ups, the Financial Times reported on Friday. The new fund is aiming to raise between $800 million and $1 billion from investors, the report said, citing people familiar with the matter. Andreessen Horowitz did not immediately respond to a Reuters request for comment. The news of the development comes as cryptocurrencies surge in value this year, with a clutch of top-tier firms including Tesla Inc diving into the space.