Silicon Valley based venture capital firm Andreessen Horowitz closed two funds totalling $4.5 billion.
In details, the firm has raised:
- Fund VII, a $1.3 billion early-stage fund to invest in consumer, enterprise, and financial services technologies. With eleven primary investing partners (across these verticals), the fund will continue to invest in seed and early-stage venture rounds.
- Growth II, a $3.2 billion growth-stage fund that invests across all of the core a16z vertical domains: consumer, enterprise, financial technology, bio, and crypto. With three primary investing partners working in partnership with all of their early-stage investing partners, Growth II will back companies that already exist within other a16z early-stage funds and in new companies without existing investment by the firm. The vehicle seeks companies that have demonstrated product-market fit and are looking to expand their go-to-market presence.
The new funds brought total assets under management to nearly $16.5 billion.
In a blog post by Scott Kupor announcing the funds, the firm saids that the new vehicles represents a continuation of their core strategy and of their belief in some concepts which made the firm founded by Marc Andreessen and Ben Horowitz 11 years ago famous worlwide. These are:
- Software eating the world continuing to look for new verticals in which the application of software can create compelling investment opportunities.
- Investing in the best companies, regardless of stage.
- Investing in network development with approx. 100 of 185 Andreessen Horowitz’s employees dedicated to creating a broad network among institutions and people who seek business relationships with their portfolio companies in order to accelerate their own growth efforts.
The firm is based in Menlo Park and San Francisco.