Andreessen Horowitz’s crypto arm has invested $50 million in Jito, a Solana-based staking and infrastructure protocol.

In a statement, the Jito Foundation characterized the deal as a “strategic investment from a16z crypto via a private token sale.”

“The Foundation will utilize this funding to further its mission of advancing Jito Network technology—and the Jito community—in an effort to maximize scalability, efficiency, and economic value on Solana, enhancing Solana’s position as the home of Internet Capital Markets,” the group said.

The news was first reported by Fortune. 

Founded to enhance Solana’s validator performance and optimize transaction…

Read more on Blockworks