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Top VC firm Andreessen Horowitz has announced that it’s raised a new $200 million co-investment fund, meaning a fund to invest in startups it has already invested in. That brings the firm’s assets under management to $1.15 billion.A16Z, as it’s sometimes known, is quick to the draw. The firm raised a $300 million fund which it invested very quickly and then raised another $650 million. It has invested, either directly or through secondary markets, in almost every big private internet company you can name: Skype, Facebook, Twitter, Zynga, Groupon… They also do dozens of seed deals and everything in between.
The firm’s general partners’ thesis is that there are only a handful of huge tech companies created each year, and that firms that invest in those companies will do well, whatever the valuation or the terms. A16Z partner Ben Horowitz is also on record as writing that there’s no tech bubble. They and their LPs are putting their money where their mouth is.
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