Silicon Valley stalwart Andreessen Horowitz is renouncing its status as a venture capital firm as it moves closer to the world of financial services, cofounder Marc Andreessen told Forbes. All 150 firm employees and partners will register as financial advisors. The differentiation allows the firm to make higher-risk investments in areas that the SEC says requires more oversight, such as cryptocurrency or token sales. Andreessen Horowitz, one of Silicon Valley’s flagship institutional tech investors, has renounced its status as a venture capital firm and registered as a financial advisor.