Recently, a16z's Crypto Startup Accelerator (CSX) has been making headlines, with many financing projects seeing its lead or participation. On March 31, the official account tweeted to announce the launch of the fourth phase of CSX (CSX 04) in San Francisco in spring 2025. Even in what netizens jokingly refer to as the "garbage time" of a sluggish market, CSX continues to incubate new projects. So what exactly is the background of this accelerator? What surprises will it bring to the OGs of the crypto world?

Web3's "Star Factory"

CSX is a16z crypto's accelerator program specifically designed for early-stage blockchain and cryptocurrency startups, lasting 8 to 10 weeks each session. Participants not only receive at least $500,000 in direct investment (with standard terms of 7% equity) but also rapidly enhance their product development and market competitiveness through intensive courses, one-on-one mentoring, and industry resources.

Since its inception, CSX has successfully held multiple sessions in San Francisco, London, and New York. The spring 2024 London cohort selected 25 startups, the fall 2024 New York cohort included 21, and the spring 2025 San Francisco cohort (CSX 04) has announced 9 shortlisted projects. At the end of each session, CSX hosts a "Demo Day," allowing entrepreneurs to showcase their results to top investors and industry leaders, accelerating further funding into the projects.

Through financial support, industry resources, and high-profile mentors, CSX has helped numerous startups transition from concept to reality, becoming one of the most influential accelerators in the Web3 entrepreneurial space.

Investment Highlights and Representative Projects

CSX 04 was announced on March 31, 2025, with the queue for the fourth Crypto Startup Accelerator program starting in early April. Over the next two months, the founders of these companies will receive firsthand guidance and support from a16z crypto's investment and operations team, with a16z CSX investing at least $500,000 in each accepted company.

CSX will help early-stage startups find technical development to accelerate their products and quickly achieve precise alignment with market demands. The companies participating in CSX 04 include Cambrian Network, Ambient, Inco, KYD Labs, Launcher Capital, Mahojin, ORO AI, Toji, and ZAR.

Here are a few standout project cases from the Crypto Startup Accelerator program:

AminoChain (CSX Spring 2024)

AminoChain was co-founded by biotechnology expert Elena Petrova and blockchain engineer Mark Smith, aiming to connect research institutions and biopharmaceutical companies through blockchain technology to create a transparent biological sample trading platform.

The project stood out in the spring 2024 London cohort, receiving a $500,000 investment from a16z and attracting $3 million in follow-up financing during Demo Day. Petrova stated, "The mentors at CSX helped us redefine our market strategy, allowing us to go global from the lab."

Cork Protocol (CSX Fall 2024)

Cork Protocol was founded by former Goldman Sachs analyst Liam Chen, aiming to expand the on-chain credit market through blockchain technology, helping market participants price and hedge risks.

In the fall 2024 New York cohort, Cork not only received initial investment from CSX but also announced partnerships with organizations like Orange DAO and IDEO VC during the acceleration period, completing a multi-million dollar financing round. Chen admitted, "CSX's 'group therapy' guidance helped us quickly pinpoint our product positioning."

Cambrian Network (CSX 04, 2025)

One of the star projects of the spring 2025 cohort, Cambrian Network is led by Chinese engineer Zhang Wei, with a team focused on combining AI and blockchain to provide decentralized financial intelligence solutions. It is reported that the project's valuation reached $59 million during the CSX period.

Project leader Zhang Wei stated, "The resources from CSX allowed us to communicate with top crypto founders, accelerating our technology implementation."

Additionally, CSX's portfolio includes AI-focused PIN AI, infrastructure company Blocksense, and consumer applications like Sekai (an interactive storytelling platform). The diversity of these projects showcases CSX's support for full-stack innovation in Web3.

The Team Behind CSX: a16z's Unsung Heroes

The success of CSX is inseparable from the strong team behind a16z's crypto division, all personally managed by Jason Rosenthal.

As a16z's operating partner, Rosenthal has extensive entrepreneurial experience, having served as CEO of several tech companies, leading a remarkable team. Investment partner Elizabeth Harkavy, technical expert Ali Yahya, and policy advisor Tomicah Tillemann each provide crucial support for projects in their respective fields. The seamless collaboration among the three forms the core pillar of CSX's success.

Harkavy has stated, "What makes CSX unique is that we not only provide funding but also act as 'startup doctors,' helping founders diagnose problems and find solutions." Additionally, CSX frequently invites industry leaders to share their experiences, such as Coinbase founder Brian Armstrong and Solana co-founder Anatoly Yakovenko, indicating that CSX can draw on the experiences of these high-quality projects to bring better resources to accelerated projects.

CSX is both an accelerator and a catalyst, accelerating project growth by connecting founders with capital, experts, and industry networks. For example, AminoChain from the 2024 London cohort launched its product beta less than six months after CSX ended, while Cork Protocol completed critical testnet deployment during the acceleration period.

A Promising Future, Heading Towards New Heights

For the entire crypto ecosystem, the significance of CSX lies in promoting technological dissemination and diverse innovation. Chris Dixon once said, "The potential of crypto is underestimated, and CSX is the tool for us to realize that potential." While other venture capitalists remain cautious about the crypto space, a16z's continued investment has attracted more talent and creativity into Web3.

From San Francisco to London and then to New York, a16z CSX has become the "rocket fuel" for crypto entrepreneurs with its unique model and strong support system.

Whether it's the biotech revolution led by AminoChain or the AI computing breakthroughs brought by Cambrian Network, these innovative projects are profoundly influenced by CSX. Under the leadership of Chris Dixon and Jason Rosenthal, CSX is injecting continuous momentum into the future of Web3, and we look forward to the development of the projects they support.

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