Andreessen Horowitz is launching a $2 billion VC fund for later-stage startups it thinks have ‘unusually big visions’

Andreessen Horowitz partner Marc Andreessen. Justin Sullivan/Getty
  • The Silicon Valley venture-capital firm Andreessen Horowitz announced on Wednesday it raised $US2 billion for its first late-stage venture fund.
  • The firm’s newest general partner, David George, will run the fund, which will specialize in providing funding for companies in the series C to series G range.
  • The firm also announced Fund VI, a $US750 million early-stage fund for enterprise, consumer, and fintech investments.
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Andreessen Horowitz, one of Silicon Valley’s most high-profile venture-capital firms, is shaking things up ahead of its 10th birthday.

On Wednesday, the firm announced it raised $US2 billion for its first foray into late-stage investing. Scott Kupor, the firm’s managing director, wrote in a blog post that the fund will be run by David George, a new general partner at the firm, and will invest in companies from series C to series G stages across a variety of industries.

Read more:Andreessen Horowitz, one of Silicon Valley’s most prominent tech investors, is renouncing its status as a venture-capital firm

The fund will not be called a growth fund, Kupor wrote, although it will look remarkably similar in practice to other growth funds in Silicon Valley. As tech startups stay private longer, and later funding rounds have ballooned in size, investors hoping to get in on a round need substantial capital and dedicated teams to do so.

“In each era, there are a set of companies executing on unusually big visions for emerging categories, and we want these companies to be supported with a venture mindset that supports long-term vision and greater innovation risks,” Kupor said in the blog post.

“For us, growth is about late-stage venture – aimed at great new companies that are just hitting escape velocity, and that may need a more venture-like mindset to support their further company building and scaling,” he said.

Andreessen Horowitz also announced it has raised $US750 million for Fund VI, an early-stage fund for enterprise, consumer, and fintech opportunities. The new fund will sit alongside the firm’s bio and crypto funds and will have its own dedicated investment team.

With these two new funds, Andreessen has raised a total of $US10 billion in the past decade, Axios’ Dan Primack reported.

Read Kupor’s full blog post here.