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Andreessen Horowitz raises another $1.5 billion venture fund

It’s the firm’s fifth fund since 2009.

Ben Horowitz and Marc Andreessen
Ben Horowitz (L) and Marc Andreessen
C Flanigan and Michael Kovac / Getty Images

Well-known venture capital firm Andreessen Horowitz has raised another $1.5 billion investment fund, its fifth fund since the firm started back in 2009.

The fund will go toward everything from seed to mid-stage investments, the firm said in a blog post. A sizable amount, $500 million, will sit in an overflow fund that investors can pull from in case of a “very large investment,” a spokesperson confirmed. It's the same structure Andreessen Horowitz has used for its previous venture funds.

The new money comes at basically the same time that another firm, Sherpa Capital, raised $470 million for two different funds. If you’ll remember, there was concern at the beginning of the year that there would be an investment slowdown after the number of venture funds in 2015 dropped significantly from 2014. Clearly that hasn’t impacted a16z.

Andreessen Horowitz, which is led by founders Marc Andreessen and Ben Horowitz, is already invested in a bunch of tech unicorns like Lyft, Airbnb and Pinterest.

This article originally appeared on Recode.net.

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