a16z brings development fund to $8.5B days after launching new $1.1B fund
Enterprise capital agency Andreessen Horowitz has expanded its fifth development fund to $8.5 billion. Meaning the agency added one other $1.75 billion for the reason that fund launched in January with $6.75 billion.
The agency’s announcement comes simply days after a16z introduced it had raised a recent $1.1 billion for a brand new and totally different fund that it’s calling the “Machine Age Fund.” The fund’s throwback, steampunk-esque title displays its give attention to AI {hardware} startups creating chips, reminiscence, networking, and storage.
As the expansion fund’s title implies, it’s money devoted to funding growth-stage startups which might be ramping up merchandise, increasing into new geographies, and scaling nearly every little thing else.
Over seven years, the expansion fund has invested in additional than 100 corporations, David George, a normal companion who leads the expansion funding workforce, wrote in his announcement weblog. However on this age of AI, corporations are reaching the expansion stage sooner and gobbling up additional cash at larger valuations than ever, too.
With these billions, a16z is pursuing enterprise and shopper AI tech, protection tech, robotics, infrastructure {hardware} and software program, and well being tech — actually the entire stack. On this election yr, it is usually spending huge on politics and lobbying.
These new funds observe the $15 billion in new funding a16z introduced in January. On the time, it had $90 billion of property beneath administration.
