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.
Will you support Vox’s explanatory journalism?
Most news outlets make their money through advertising or subscriptions. But when it comes to what we’re trying to do at Vox, there are a couple of big issues with relying on ads and subscriptions to keep the lights on:
First, advertising dollars go up and down with the economy. We often only know a few months out what our advertising revenue will be, which makes it hard to plan ahead.
Second, we’re not in the subscriptions business. Vox is here to help everyone understand the complex issues shaping the world — not just the people who can afford to pay for a subscription. We believe that’s an important part of building a more equal society. And we can’t do that if we have a paywall.
So even though advertising is still our biggest source of revenue, we also seek grants and reader support. (And no matter how our work is funded, we have strict guidelines on editorial independence.)
If you also believe that everyone deserves access to trusted high-quality information, will you make a gift to Vox today? Any amount helps.
Yes, I'll give $5/month
Yes, I'll give $5/month
We accept credit card, Apple Pay, and
Google Pay. You can also contribute via