Wow!Andressen-Horowitz just raised its third fund — a whopping $1.5 billion. The investing firm has raised $2.7 billion altogether.
Andreessen-Horowitz is an investor in Airbnb and Pinterest.
Partner Ben Horowitz explained in a blog post this morning how the company keeps doing it: basically, the firm works hard to train company founders to become great CEOs, rather than looking to replace them with “professional” COEs. That has built a lot of trust among startups, which in turn attracts talented founders and companies. Investors follow.
Here’s the full press release announcing the raise, according to AllThingsD:
Andreessen Horowitz Announces $1.5 Billion Fund III
Continues Focus on Helping Great Entrepreneurs Build Great Companies
MENLO PARK, Calif., Jan 31, 2012 (BUSINESS WIRE) – Andreessen Horowitz ( www.a16z.com ) today announced that it has raised $1.5 billion for its Fund III, continuing its mission of helping great entrepreneurs build great companies.
“a16z’s Fund III is all about extending our capabilities to more disruptors and pioneers,” said Co-founder and General Partner Ben Horowitz. “We’re remaking the modern venture capital firm, and entrepreneurs are responding to our unique approach.”
a16z has raised $2.7 billion since its founding in June 2009 and currently has a portfolio of 90 consumer and enterprise technology companies across all stages, including Airbnb, Box, Fab, Facebook, Foursquare, GoodData, Lookout, Lytro, Magnet Systems, Nicira, Pinterest, Silver Tail Systems, Tidemark and Zynga.
“Software is the catalyst that will remake entire industries during the next decade. We are single-mindedly focused on partnering with the best innovators pursuing the biggest markets,” said Co-founder and General Partner Marc Andreessen.
a16z provides entrepreneurs with direct access to six general partners–Jeff Jordan, Peter Levine, John O’Farrell, Scott Weiss, plus Horowitz and Andreessen–all of whom are experienced operators and company builders. a16z also enables entrepreneurs to utilise expertise from operating partners who specialize in business development, technical talent, executive talent, market intelligence, and marketing and brand building, plus the economics expertise of Special Advisor Larry Summers.
Fund III is available to be deployed immediately. Further detail about the firm’s new fund is available on Ben Horowitz’s blog: www.bhorowitz.com.