In 2016 when Chime desperately needed cash, over 100 VCs said no. One seed VC, took a chance and saved the company, co-founder Ryan King recalls.

Since its founding in 2014, a16z Bio+ Health has raised four funds of nearly $3 billion each, including a $1.5 billion fund that closed in 2022.

After a multi-year IPO freeze, fintech companies like Chime are entering the public market with slashed valuations and tempered expectations.