{{short description|American venture capital firm}} {{Use American English|date=February 2019}} {{Use mdy dates|date=November 2024}} {{Infobox company | name = AH Capital Management, LLC | logo = | logo_upright = 1.2 | type = Private | foundation = {{Start date and age|2009|7|6}} | founders = Marc Andreessen<br />Ben Horowitz | location = | location_city = Menlo Park, California | location_country = U.S. | industry = Venture capital | aum = $90 billion (as of Jan 2026)<ref>{{cite web |title=Who We Are |url=https://a16z.com/about/ |website=Andreessen Horowitz |publisher=Andreessen Horowitz |access-date=11 March 2026}}</ref> | assets = | num_employees = >500<ref>{{cite news |last1=Mathews |first1=Jessica |title=How big can Andreessen Horowitz really get? |url=https://fortune.com/2022/11/28/inside-ftxs-crypto-empire-in-the-bahamas-2/ |work=Fortune |date=28 November 2022 |archive-url=https://archive.today/20221128154700/https://fortune.com/2022/11/28/inside-ftxs-crypto-empire-in-the-bahamas-2/ |archive-date=28 November 2022 |language=en}}</ref><ref>{{cite web |last1=Jordan |first1=Jeff |title=A Personal Update |url=https://a16z.com/a-personal-update/ |website=Andreessen Horowitz |archive-url=https://web.archive.org/web/20250827003350/https://a16z.com/a-personal-update/ |archive-date=27 August 2025 |language=en |date=19 May 2023}}</ref> | num_employees_year = 2023 | homepage = {{URL|https://a16z.com/}} | trade_name = Andreessen Horowitz }}
'''Andreessen Horowitz''' (also known as '''a16z''') is an American privately-held venture capital firm headquartered in Menlo Park, California, United States. It was founded in 2009 by Marc Andreessen and Ben Horowitz.
Andreessen Horowitz invests in both early-stage startups and established growth companies.<ref name="TechCrunch News2">{{Cite web |last=Arrington |first=Michael |title=Andreessen Horowitz Celebrates First Year With New General Partner John O'Farrell |url=https://techcrunch.com/2010/06/20/andreessen-horowitz-celebrates-first-year-with-new-general-partner-john-ofarrell/ |access-date=April 14, 2012 |website=News |date=June 21, 2010 |publisher=TechCrunch}}</ref> Its investments span the healthcare, consumer, cryptocurrency, gaming, fintech, education, and enterprise software (including cloud computing, security, and software as a service) industries.<ref name="ben" />
As of January 2026, the company has $90 billion assets under management.<ref>{{Cite web |date=January 9, 2026 |title=Andreessen Horowitz raises $15 billion doubling down on AI and defense start ups |url=https://www.reuters.com/business/andreessen-horowitz-raises-15-billion-across-five-funds-tech-startup-investments-2026-01-09/ |url-status=live |website=Reuters}}</ref>
==Founding and partnering== {{multiple image | footer = Marc Andreessen (''left'') and Ben Horowitz (''right'') are the company's founders. | align = right | image1 = Marc Andreessen-9 (cropped).jpg | image2 = TechCrunch Disrupt San Francisco 2018 - day 2 (42713740520) (cropped).jpg | total_width = 300 }} Between 2006 and 2010, Marc Andreessen and Ben Horowitz actively invested in technology companies. Both separately and together, they invested $4 million in 45 startups, including Twitter.<ref name="UCLA">{{Cite web |last=Wong Kromhout |first=Wileen |title=Ben Horowitz MS '90 |url=http://www.engineer.ucla.edu/visitor-links/alumni/alumni-profiles-1/ben-horowitz-ms-201990 |url-status=dead |archive-url=https://web.archive.org/web/20120212181829/http://www.engineer.ucla.edu/visitor-links/alumni/alumni-profiles-1/ben-horowitz-ms-201990 |archive-date=February 12, 2012 |access-date=April 13, 2012 |publisher=UCLA Engineering}}</ref> During this time, the two became known as "super angel" investors.<ref name=UCLA />
On July 6, 2009, Andreessen and Horowitz launched their venture capital fund with an initial capitalization of $300 million.<ref name="CNN">{{Cite news |last=Maney |first=Kevin |date=July 6, 2009 |title=Marc Andreessen puts his money where his mouth is |work=CNNMoney |publisher=CNN |url=https://money.cnn.com/2009/07/02/technology/marc_andreessen_venture_fund.fortune/index.htm |archive-url=https://web.archive.org/web/20090708060641/http://money.cnn.com/2009/07/02/technology/marc_andreessen_venture_fund.fortune/index.htm |url-status=dead |archive-date=July 8, 2009 |access-date=April 13, 2012}}</ref> In November 2010, at a time when the field of venture capitalism was contracting, the company raised an additional $650 million for a second venture fund.<ref name="CNN" /><ref name="NYTimes">{{Cite news |last=Cain Miller |first=Claire |date=November 3, 2010 |title=Andreessen Horowitz Starts Second Fund |work=The New York Times |url=http://bits.blogs.nytimes.com/2010/11/03/andreessen-horowitz-starts-second-fund/ |access-date=April 14, 2012}}</ref> In less than two years, the firm was managing a total of $1.2 billion under the two funds.<ref name="ben">{{Cite web |last=Horowitz |first=Ben |title=Andreessen Horowitz has a new $200m Co-Investment Fund |url=http://bhorowitz.com/2011/04/06/andreessen-horowitz-has-a-new-200mm-co-investment-fund/ |url-status=dead |archive-url=https://web.archive.org/web/20110407235346/http://bhorowitz.com/2011/04/06/andreessen-horowitz-has-a-new-200mm-co-investment-fund/ |archive-date=April 7, 2011 |access-date=April 13, 2012 |website=ben's blog |publisher=Andreessen Horowitz }}</ref>
As of March 27, 2014, the firm was managing $4 billion in assets following the closing of its fourth fund at $1.5 billion.<ref name="TechCrunch Venture">{{Cite web |last=Dillet |first=Romain |title=Andreessen Horowitz Raises Massive New $1.5 Billion Fund |url=https://techcrunch.com/2014/03/27/andreessen-horowitz-raises-massive-new-1-5-billion-fund/ |access-date=May 15, 2014 |website= |date=March 27, 2014 |publisher=TechCrunch}}</ref>
In addition to Andreessen and Horowitz, the firm's general partners include Jeff Jordan, Chris Dixon, Martin Casado, and Andrew Chen.<ref>{{Cite web |last=Horowitz |first=Ben |date=February 15, 2018 |title=Andrew Chen |url=https://a16z.com/andrew-chen/ |access-date=October 30, 2024 |website=Andreessen Horowitz |language=en}}</ref><ref>{{Cite web |title=Team – Andreessen Horowitz |url=https://a16z.com/about/team/ |access-date=January 15, 2017 |website=a16z.com}}</ref><ref>{{Cite web |date=June 17, 2018 |title=Connie Chan breaks the mold at Andreessen Horowitz, becoming the first general partner to be promoted from within |url=https://techcrunch.com/2018/07/17/connie-chan-breaks-the-mold-at-andreessen-horowitz-becoming-the-first-general-partner-to-be-promoted-from-within/ |access-date=January 16, 2020 |website=techcrunch.com}}</ref><ref>{{Cite news |title=An Uber executive is now the newest shot-caller at Andreessen Horowitz |work=Recode |url=https://www.recode.net/2018/2/15/17016356/andrew-chen-andreessen-horowitz-uber |access-date=April 11, 2018}}</ref><ref>{{Cite news |last=The Associated Press |author-link=The Associated Press |date=June 30, 2018 |title=Barack Obama visits venture capital firm on California trip |publisher=ABC News |url=https://abcnews.go.com/US/wireStory/barack-obama-visits-venture-capital-firm-california-trip-56288370}}</ref> Ex-VMware CEO Raghu Raghuram joined the firm as general partner in October 2025.<ref>{{cite news |last1=Primack |first1=Dan |title=Ex-VMware CEO joins Andreessen Horowitz as general partner |url=https://www.axios.com/2025/10/09/vmware-ceo-raghuram-andreessen-horowitz |work=Axios |date=9 October 2025 |language=en}}</ref> Margit Wennmachers served as operating partner from 2010 to July 2025, when she became partner emeritus.<ref>{{cite news |last1=Hempel |first1=Jessi |title=The Spin Master Behind Facebook, Airbnb, and Silicon Valley As You Know It |url=https://www.wired.com/story/margit-wennmachers-is-andreessen-horowitzs-secret-weapon/ |work=Wired |date=21 January 2019 |archive-url=https://archive.today/20191216182140/https://www.wired.com/story/margit-wennmachers-is-andreessen-horowitzs-secret-weapon/ |archive-date=16 December 2019}}</ref><ref>{{cite web |title=Margit Wennmachers, Author at Andreessen Horowitz |url=https://a16z.com/author/margit-wennmachers/ |website=Andreessen Horowitz |language=en}}</ref><ref>{{cite news |last1=Bodley |first1=Michael |title=Andreessen Horowitz marketing maestro Margit Wennmachers is stepping down |url=https://pitchbook.com/news/articles/andreessen-horowitz-marketing-maestro-margit-wennmachers-leaving-a16z |work=PitchBook |date=30 July 2025 |language=en}}</ref>
In March 2019, it was reported that Andreessen Horowitz was opening an office in San Francisco.<ref name="FootnoteA">{{Cite web |last=Kawamoto |first=Dawn |date=March 11, 2019 |title=Venture capital powerhouse is latest Silicon Valley firm to open San Francisco office |url=https://www.bizjournals.com/sanfrancisco/news/2019/03/11/venture-capital-andreessen-horowitz-y-combinator.html |access-date=March 16, 2019 |website=www.bizjournals.com |publisher=San Francisco Business Times}}</ref>
In January 2022, Andreessen Horowitz raised $9 billion for its venture capital, growth-stage, and biotech-focused funds.<ref>{{Cite web |last=Horowitz |first=Ben |date=January 7, 2022 |title=$9B to Build the Future |url=https://a16z.com/2022/01/07/9b-to-build-the-future/ }}</ref><ref>{{Cite news |last=Wilhelm |first=Alex |date=January 7, 2022 |title=Andreessen Horowitz raises $9B in new capital for venture, growth, bio funds |work=TechCrunch |url=https://techcrunch.com/2022/01/07/andreessen-horowitz-raises-9b-in-new-capital-for-venture-growth-bio-funds/}}</ref>
In January 2026, Andreessen Horowitz raised $15 billion across five new funds.<ref>{{Cite web |last=Horowitz |first=Ben |date=2026-01-09 |title=Why Are We Here? Why Did We Raise $15B? |url=https://a16z.com/why-did-we-raise-15b/ |access-date=2026-01-18 |website=Andreessen Horowitz |language=en}}</ref>
As of March 2026, the firm is managing at least $90 billion in assets.<ref name=":0">{{cite web |title=About a16z |url=https://a16z.com/about/ |access-date=June 11, 2023 |website=}}</ref>
==Investments==
By 2012, ''Business Insider'' wrote that, "Andreessen Horowitz is the most powerful and respected venture capital firm in Silicon Valley right now."<ref>{{cite news |last1=Carlson |first1=Nicholas |title=To Justify The Hype, Andreessen Horowitz Has To Return $10+ Billion To Its Investors |url=https://www.businessinsider.com/to-justify-the-hype-andreessen-horowitz-has-to-return-10-billion-to-its-investors-2012-1 |work=Business Insider |date=1 February 2012}}</ref> The firm is often cited as the largest and one of the most powerful venture capital funds in the world.<ref>{{cite news |last1=Raines |first1=Jack |title=American tourists are Europe's stimulus package |url=https://sherwood.news/business/american-europe-tourism-jason-derulo-coin-a16z-fund/ |work=Sherwood News |date=25 June 2024}}</ref><ref>{{cite news |last1=Murphy |first1=Hannah |last2=Hammond |first2=George |title=Marc Andreessen helps to recruit staff for Elon Musk’s US cost-cutting body |url=https://www.ft.com/content/1f14799f-69a1-41cb-bf7f-6f16f9ad4a8b |work=www.ft.com |date=5 December 2024 |archive-url=https://archive.today/20241205120430/https://www.ft.com/content/1f14799f-69a1-41cb-bf7f-6f16f9ad4a8b |archive-date=5 December 2024}}</ref> Marc Andreessen in particular is often cited as one of the most powerful venture capitalists, who is dominant, if also controversial, not only in Silicon Valley, but also in politics.<ref>{{cite news |last1=Kosoff |first1=Maya |title=One of the most legendary venture capitalists in the world doesn't think we're in a bubble |url=https://www.businessinsider.com/marc-andreessen-talks-about-the-tech-bubble-2015-5 |work=Business Insider |date=12 May 2015}}</ref><ref>{{cite news |title="Democracy in the USA is being abolished" |url=https://www.bluewin.ch/en/news/international/democracy-in-the-usa-is-being-abolished-2710433.html |work=blue News |date=25 May 2025 |language=en}}</ref><ref>{{cite news |last1=Leimann |first1=Eric |title=Ex-"heute journal"-Moderator Claus Kleber malt düsteres US-Szenario: "Demokratie wird abgeschafft" |url=https://www.hoerzu.de/aktuelles/claus-kleber-im-interview-die-schockstarre-und-angst-im-neuen-amerika-sind-allgegenwaertig/ |work=HÖRZU |date=20 May 2025 |language=de}}</ref><ref>{{cite news |last1=Taplin |first1=Jonathan |title=How Musk, Thiel, Zuckerberg, and Andreessen—Four Billionaire Techno-Oligarchs—Are Creating an Alternate, Autocratic Reality |url=https://www.vanityfair.com/news/2023/08/musk-thiel-zuckerberg-andreessen-alternate-autocratic-reality?srsltid=AfmBOooEvmtlXXmF7yffoTHBbqAHiN_58pcFW9NF-_-Vq7B_FYMMMykr |work=Vanity Fair |date=22 August 2023}}</ref><ref>{{cite news |last1=Elliott |first1=Vittoria |title=Tech Billionaires Already Captured the White House. They Still Want to Be Kings |url=https://www.wired.com/story/tech-billionaires-communities/ |work=Wired |date=26 September 2025 |archive-url=https://archive.today/20250930040316/https://www.wired.com/story/tech-billionaires-communities/ |archive-date=30 September 2025}}</ref><ref>{{cite news |last1=Morozov |first1=Evgeny |title=Tech oligarchs impose their prophetic visions |url=https://english.elpais.com/opinion/2025-04-27/tech-oligarchs-impose-their-prophetic-visions.html |work=EL PAÍS English |date=27 April 2025 |language=en-us}}</ref>
As per the website ''OfficeChai'''s calculations (up to October 2025), since 2020, Andreessen Horowitz has backed 32 unicorns, more than any other venture firm.<ref>{{cite web |author1=OfficeChai Team |title=A16Z Has Backed Most US-Based Unicorns Since 2020, Sequoia Placed Second |url=https://officechai.com/startups/a16z-has-backed-most-us-based-unicorns-since-2020-sequoia-placed-second/ |website=OfficeChai |access-date=15 November 2025 |date=26 October 2025}}</ref> By November 2025, Andreessen Horowitz's website lists 1076 portfolio companies.<ref>{{cite web |title=a16z Investments Listed From A to Z {{!}} a16z |url=https://a16z.com/investment-list/ |website=Andreessen Horowitz |access-date=15 November 2025 |archive-url=https://web.archive.org/web/20251115043155/https://a16z.com/investment-list/ |archive-date=15 November 2025 |language=en}}</ref> The note reads: "Any investments or portfolio companies mentioned, referred to, or described on this page are not representative of all investments in vehicles managed by a16z and there can be no assurance that the investments will be profitable or that other investments made in the future will have similar characteristics or results. Exits include current and former a16z portfolio companies which have been acquired as well as companies which have undergone an initial public offering or direct public offering of shares. Certain publicly traded companies on this list may still be held in Andreessen Horowitz funds."<ref>{{cite news |title=a16z Portfolio: Active Investments & Exits {{!}} a16z |url=https://a16z.com/portfolio/ |access-date=15 November 2025 |work=Andreessen Horowitz |archive-url=https://web.archive.org/web/20251110132407/https://a16z.com/portfolio/ |archive-date=10 November 2025 |language=en}}</ref> The American Dynamism section lists 50 companies.<ref>{{cite web |title=The American Dynamism 50: Companies Shaping the Fight of the Future |url=https://a16z.com/american-dynamism-50-2025/ |website=Andreessen Horowitz |access-date=15 November 2025 |archive-url=https://web.archive.org/web/20250918081710/https://a16z.com/american-dynamism-50-2025/ |archive-date=18 September 2025 |language=en}}</ref>
Leslie Feinzaig writes on ''Fast Company'' that nowadays Andreessen Horowitz and other big firms do not act like traditional venture capital firms anymore, but invest beyond early-stage private companies, including public equities, crypto tokens, non-traditional assets, and more. There is also a tendency towards competing for the obvious alpha, and not just making the contrarian's bet.<ref>{{cite news |last1=Feinzaig |first1=Leslie |title=Andreessen Horowitz is not a venture capital fund |url=https://www.fastcompany.com/91398458/andreessen-horowitz-vc-consensus-capital |work=Fast Company |date=5 September 2025 |archive-url=https://archive.today/20250914060427/https://www.fastcompany.com/91398458/andreessen-horowitz-vc-consensus-capital |archive-date=14 September 2025}}</ref>
===American Dynamism=== In 2023, the firm launched a $600 million American Dynamism fund "with the broad aim of supporting companies building in the nation’s interest".<ref>{{Cite web |last=Alamalhodaei |first=Aria |date=2024-05-21 |title=a16z's American Dynamism team launches program to introduce technical minds to VC |url=https://techcrunch.com/2024/05/21/a16zs-american-dynamism-team-launches-program-to-introduce-technical-minds-to-vc/ |access-date=2025-11-02 |website=TechCrunch |language=en-US}}</ref> The fund focuses on hard tech sectors which serve national interest, including space, defense, manufacturing, robotics. The fund has backed companies like the defense manufacturing startup Hadrian and the hypersonic long-range rocket startup Castelion. In 2024, Andreessen Horowitz launched the 12-month American Dynamism Engineering Fellows Program, which was intended to recruit and train technologists.<ref>{{cite news |last1=Alamalhodaei |first1=Aria |title=a16z's American Dynamism team launches program to introduce technical minds to VC |url=https://techcrunch.com/2024/05/21/a16zs-american-dynamism-team-launches-program-to-introduce-technical-minds-to-vc/ |work=TechCrunch |date=21 May 2024}}</ref> Also associated with the American Dynamism fund is the annual American Dynamism summit sponsored by Andreessen Horowitz, which gathers startup founders, investors, Members of Congress and Defense Department officials. The summit is officially non-partisan and has partnered with Democratic defense officials like former Deputy Secretary of Defense Kathleen Hicks.<ref>{{cite news |last1=Green |first1=Emma |title=Building Drones—for the Children? |url=http://newyorker.com/news/the-lede/building-drones-for-the-children |work=The New Yorker |date=16 May 2025 |archive-url=https://archive.today/20250517202214/https://www.newyorker.com/news/the-lede/building-drones-for-the-children |archive-date=17 May 2025}}</ref>
The fund is managed by three general partners, namely Katherine Boyle, David Ulevitch and Erin Price-Wright.
Boyle plays an important role in the initiative. She declares in an essay titled "Building American Dynamism" that, "I believe the only way to reverse the course of stagnation and kick-start nationwide renewal post-Covid is through technologists building companies that support the national interest." She had previously interned at Founders Fund and is influenced by Peter Thiel's thinking. In 2016, she joined General Catalyst where she helped fund Anduril, before joining Andreessen Horowitz. Her portfolio at Andreessen Horowitz includes Hadrian (manufacturing in aerospace and defense), Apex Space (satellites) and Castelion (hypersonic weapons).<ref>{{cite web |last1=Ulevitch |first1=David |title=Katherine Boyle |url=https://a16z.com/katherine-boyle/ |website=Andreessen Horowitz |access-date=30 November 2025 |language=en |date=1 October 2021}}</ref><ref>{{cite news |last1=Black |first1=Julia |title=The Tech Right Gets Its Own Phyllis Schlafly |url=https://www.nytimes.com/2025/10/19/business/katherine-boyle-andreesen-horowitz-american-dynamism.html |date=19 October 2025 |archive-url=https://archive.today/20251020221643/https://www.nytimes.com/2025/10/19/business/katherine-boyle-andreesen-horowitz-american-dynamism.html |archive-date=20 October 2025}}</ref>
===Investments by timeline=== ==== 2009 ==== In 2009, Andreessen Horowitz made its first two investments: one in business management SaaS developer Apptio<ref name="VB Aug 2009">{{Cite news |last=Ricketts |first=Camille |date=August 19, 2009 |title=First Andreessen Horowitz investment, Apptio, raises $14M |work=Venture Beat |url=https://venturebeat.com/2009/08/19/first-andreessen-horowitz-investment-apptio-raises-14m/ |access-date=March 20, 2014}}</ref> and one in Skype stock.<ref name="WSJ">{{Cite news |last=Ovide |first=Shira |date=May 10, 2011 |title=Microsoft-Skype Deal: Andreessen Horowitz Takes Victory Lap |work=The Wall Street Journal |url=https://blogs.wsj.com/deals/2011/05/10/microsoft-skype-deal-andreessen-horowitz-takes-victory-lap/ |access-date=April 14, 2012}}</ref>
According to Horowitz, the Skype investment was seen as risky by other experts in the field, who believed the company would be crippled by ongoing intellectual property litigation and direct competitive attacks from Google and Apple.<ref name=WSJ /> The firm's founders viewed the investment as a success following Skype's sale to Microsoft in May 2011 for $8.5 billion.<ref name=WSJ />
==== 2010–2011 ==== In 2010, Andreessen Horowitz invested $10 million in the cloud company Okta, leading its Series A round.<ref>{{Cite news |title=Okta Is Now a Unicorn After $75 Million Funding Round |work=Recode |url=https://www.recode.net/2015/9/8/11618366/okta-is-now-a-unicorn-after-75-million-funding-round |access-date=October 15, 2017}}</ref>
In 2011, Andreessen Horowitz invested $80 million in Twitter,<ref name="CNN" /> becoming the first venture firm to hold stock in all four of the highest-valued privately held social media companies at the time: Facebook, Groupon, Twitter, and Zynga.<ref name="ben" />
Andreessen Horowitz also invested in Airbnb, Lytro, Jawbone, Belly, Foursquare, Stripe, and other high-tech companies.<ref name="CNN" /><ref name="TechCrunch News">{{Cite web |last=Rao |first=Leena |title=Customer Loyalty and Rewards Program For Local Businesses Belly Raises $10M From Andreessen Horowitz |url=https://techcrunch.com/2012/05/08/customer-loyalty-and-rewards-platform-for-local-businesses-belly-raises-10m-from-andreessen-horowitz/ |access-date=April 14, 2012 |website=News |publisher=TechCrunch}}</ref><ref>Siegler, MG (April 28, 2011) [https://techcrunch.com/2011/04/28/likealittle-funding/ "Investors Don't Just Like LikeALittle A Little, They Like It A Lot."] TechCrunch. (Retrieved Jun 17, 2016.)</ref>
==== 2012–2013 ==== In 2012, Andreessen Horowitz invested in 156 companies, including 90 in its portfolio<ref name="Time">{{Cite news |last=Gustin |first=Sam |date=January 31, 2012 |title=Tech Boom: Andreessen Horowitz Raises $1.5 Billion VC Fund |work=Time Business |publisher=Time |url=https://business.time.com/2012/01/31/tech-boom-andreessen-horowitz-raises-1-5-billion-vc-fund/ |access-date=April 14, 2012}}</ref> and 66 startups<ref name="VentureBeat News">{{Cite web |last=Mitroff |first=Sarah |title=Y Combinator shows off 39 companies at Demo Day |url=https://venturebeat.com/2012/03/27/y-combinator-demo-day-march-2012/ |access-date=April 19, 2012 |website=News |date=March 27, 2012 |publisher=VentureBeat}}</ref> through its funding of Y Combinator's Start Fund.<ref name="VentureBeat Deals">{{Cite web |last=Kelly |first=Meghan |title=Andreessen-Horowitz to give $50K to all Y Combinator startups through Start Fund |url=https://venturebeat.com/2011/10/14/andreessen-horowitz-to-give-50k-to-all-y-combinator-startups-through-start-fund/ |access-date=April 19, 2012 |website=Deals |date=October 15, 2011 |publisher=VentureBeat}}</ref> The company invested $100 million in GitHub, which netted over $1 billion for the fund when Microsoft acquired GitHub for $7.5 billion.<ref>{{Cite news |title=Andreessen Horowitz is pocketing a huge win in the $7.5 billion GitHub acquisition |work=Recode |url=https://www.recode.net/2018/6/4/17424664/github-microsoft-sale-andreessen-horowitz-returns-billions |access-date=October 16, 2018}}</ref><ref>{{Cite news |date=June 4, 2018 |title=Microsoft Buys GitHub for $7.5 Billion |language=en-us |work=Andreessen Horowitz |url=https://a16z.com/2018/06/04/microsoft-buys-github-for-7-5-billion/ |access-date=October 16, 2018}}</ref> In 2013, Andreessen Horowitz invested in Clinkle, Coinbase, Databricks, Lyft, Oculus VR, PagerDuty, Pixlee, Ripple, Soylent, Swiftype, and uBiome.<ref>{{Cite web |last=Chokkattu |first=Julian |title=uBiome Raises $4.5M From Angel Investors, Andreessen Horowitz To Crowdsource Microbiome Research |url=https://techcrunch.com/2014/08/18/ubiome-raises-4-5m-from-angel-investors-andreessen-horowitz-to-crowdsource-microbiome-research/ |access-date=May 30, 2016 |website=TechCrunch|date=August 18, 2014 }}</ref><ref>{{Cite web |last=Strauss |first=Karsten |title=Can Pixlee Change Image-Based Marketing? $1.5M On 'Yes' |url=https://www.forbes.com/sites/karstenstrauss/2013/10/29/can-pixlee-change-image-based-marketing-1-5m-on-yes/#1c733e9bd398 |access-date=May 30, 2016 |website=Forbes}}</ref><ref>{{Cite web |title=Oculus Rift ensures additional $75 million to take virtual reality mainstream |url=http://siliconangle.com/blog/2013/12/23/oculus-rift-ensures-additional-75-million-to-take-virtual-reality-mainstream/ |access-date=May 30, 2016 |website=SiliconANGLE |date=December 23, 2013 |language=en-us}}</ref><ref>{{Cite web |title=Big-Name Investors Back Effort to Build a Better Bitcoin |url=https://www.technologyreview.com/s/513606/big-name-investors-back-effort-to-build-a-better-bitcoin/ |access-date=May 30, 2016 |website=MIT Technology Review}}</ref><ref>{{Cite web |last=Primack |first=Dan |date=June 27, 2013 |title=Clinkle raises $25 million to kill Square |url=http://finance.fortune.cnn.com/2013/06/27/clinkle-25-million-square/ |url-status=dead |archive-url=https://web.archive.org/web/20140113022103/http://finance.fortune.cnn.com/2013/06/27/clinkle-25-million-square/ |archive-date=January 13, 2014 |access-date=January 26, 2014 |publisher=CNNMoney.com}}</ref><ref>{{Cite web |last=Williams |first=Alex |title=PagerDuty Raises $10.7M Round From Andreessen Horowitz For IT Alert Service Modeled On AWS System |url=https://techcrunch.com/2013/01/31/pagerduty-raises-10-2m-round-from-andreessen-horowitz-for-it-alert-service-modeled-on-aws-system/ |access-date=August 30, 2016 |website=TechCrunch|date=January 31, 2013 }}</ref><ref>{{Cite web |last=Lorica |first=Ben |date=September 25, 2013 |title=Databricks aims to build next-generation analytic tools for Big Data |url=http://radar.oreilly.com/2013/09/databricks-aims-to-build-next-generation-analytic-tools-for-big-data.html |access-date=February 9, 2019 |publisher=O'Reilly Media}}</ref>
==== 2014–2015 ==== In 2014, the firm led a $57 million Series B round in the A/B testing startup Optimizely.<ref>{{Cite news |date=May 5, 2014 |title=Website Testing Company Optimizely Raises $57M Round Led By Andreessen Horowitz |work=TechCrunch |url=https://techcrunch.com/2014/05/05/optimizely-raises-a-lot-of-money/ |access-date=May 17, 2014}}</ref> The same year, the company invested in several more companies, including Tanium for $90 million,<ref>{{Cite web |title=Venture Capital Giant Andreessen Horowitz Ploughs $90M into Tanium |date=June 24, 2014 |url=http://www.infosecurity-magazine.com/view/38988/venture-capital-giant-andreesen-horowitz-ploughs-90m-into-tanium/ |access-date=June 24, 2014 |publisher=InfoSecurity Magazine}}</ref> BuzzFeed,<ref>{{Cite news |last=Mandaro |first=Laura |title=BuzzFeed receives $50 million from Andreessen Horowitz |work=USA Today |url=https://www.usatoday.com/story/money/business/2014/08/11/andreessen-horowitz-buzzfeed-50-million/13884125/ |access-date=August 22, 2014}}</ref> and Forward Networks.<ref name="Forward Networks">{{Cite news |last=Weber |first=Harrison |title=Andreessen Horowitz-backed startup Forward Networks raises $11M |work=VentureBeat |url=https://venturebeat.com/2014/11/26/andreessen-horowitz-backed-networking-startup-forward-networks-raises-11m/ |access-date=February 12, 2018}}</ref> In 2015, the firm invested $40 million in Stack Exchange,<ref>{{Cite news |last=Dixon |first=Chris |title=A16Z Invests in Stack Exchange |url=https://medium.com/@cdixon/a16z-leads-40m-investment-in-stack-exchange-a84b6c1b9122 |url-status=dead |access-date=January 21, 2015 |archive-url=https://web.archive.org/web/20150121035620/https://medium.com/@cdixon/a16z-leads-40m-investment-in-stack-exchange-a84b6c1b9122 |archive-date=January 21, 2015}}</ref><ref>{{Cite web |last=Spolsky |first=Joel |title=Andreessen Horowitz Invests in Stack Exchange |url=http://blog.stackoverflow.com/2015/01/andreessen-horowitz-invests-in-stack-exchange/?cb=1 |access-date=January 21, 2015 |website=stackoverflow.com|date=January 20, 2015 }}</ref> $2.8 million in Distelli,<ref>{{Cite web |title=Distelli Snags $2.8M to Build Deployment as a Service |url=https://techcrunch.com/2015/01/20/distelli-snags-2-8m-to-build-deployment-as-a-service/ |website=TechCrunch|date=January 20, 2015 }}</ref> and $80 million in cloud-based CAD software company Onshape.<ref>{{Cite web |last=Loizos |first=Connie |title=Onshape Raises $80 Million Led By Andreessen Horowitz |url=https://techcrunch.com/2015/09/24/onshape-raises-80-million-led-by-andreessen-horowitz/ |access-date=September 30, 2015 |website=www.techcrunch.com|date=September 24, 2015 }}</ref> Also in 2015, Andreessen Horowitz invested in the blogging platform Medium,<ref>{{Cite web |last=Yeung |first=Ken |title=Publishing site Medium takes on $57M led by Andreessen Horowitz |url=https://venturebeat.com/2015/09/28/publishing-site-medium-takes-on-57m-led-by-andreessen-horowitz/ |access-date=September 30, 2015 |website=www.venturebeat.com|date=September 28, 2015 }}</ref> Samsara,<ref>{{Cite web |title=Meraki founders score $25 million from Andreessen Horowitz for sensor startup |url=https://www.bizjournals.com/sanjose/blog/techflash/2015/05/wireless-sensor-startup-samsara-raised-series-a.html |access-date=November 19, 2019 |website=www.bizjournals.com}}</ref> Improbable,<ref>{{Cite web |last=Russell |first=Jon |title=Improbable Lands $20M From Andreessen Horowitz For Distributed Simulation Tech |url=https://techcrunch.com/2015/03/24/improbable-andreessen-horowitz/ |access-date=January 25, 2017 |website=TechCrunch|date=March 24, 2015 }}</ref> Honor, Inc.,<ref>{{Citation |title=An Ex-Googler Launches An In-Home Care Startup Called Honor And Raises $20 Million |date=April 2, 2015 |url=https://techcrunch.com/2015/04/02/an-ex-googler-is-launching-an-in-home-care-startup-called-honor-and-raised-20-million/ |work=Tech Crunch}}</ref> OpenBazaar,<ref>{{Cite web |title=OpenBazaar is Entering a New Phase with Funding {{!}} OpenBazaar Blog |url=https://blog.openbazaar.org/openbazaar-is-entering-a-new-phase-with-funding/ |url-status=dead |archive-url=https://web.archive.org/web/20170928131723/https://blog.openbazaar.org/openbazaar-is-entering-a-new-phase-with-funding/ |archive-date=September 28, 2017 |access-date=September 19, 2017 |website=blog.openbazaar.org |language=en-US}}</ref><ref>{{Cite web |title=Introducing OB1 – Union Square Ventures |url=http://www.usv.com/blog/introducing-ob1 |access-date=September 19, 2017 |website=www.usv.com |date=June 11, 2015 |language=en}}</ref> a blockchain startup, and nootropics and biohacking company Nootrobox.<ref>{{Citation |title=Andreessen Horowitz to Invest in Nootropics Start-Up |date=December 3, 2015 |url=https://www.nytimes.com/2015/12/04/business/dealbook/andreessen-horowitz-to-invest-in-nootropics-start-up.html |work=The New York Times}}</ref>
==== 2016–2019 ==== In 2016, the firm led an $8.1 million Series A round in Everlaw, a legal technology company, and led a $3.5 million Series Seed round in RapidAPI, an API connection platform for developers.<ref>{{Cite web |last=Loizos |first=Connie |title=This 18-year-old just raised $3.5 million to help developers easily add capabilities to their apps |url=https://techcrunch.com/2016/11/21/this-18-year-old-just-raised-3-5-million-to-help-developers-easily-add-capabilities-to-their-apps/ |access-date=November 21, 2016 |website=TechCrunch|date=November 21, 2016 }}</ref><ref name="TechCrunch1">{{Cite web |last=Loizos |first=Connie |title=Everlaw Lands $8.1 Million Series A Led By Andreessen Horowitz |url=https://techcrunch.com/2016/01/14/everlaw-lands-8-1-million-series-a-led-by-andreessen-horowitz/ |access-date=January 19, 2016 |website=TechCrunch |date=January 14, 2016 }}</ref> Also in 2016, the firm invested $2 million in Cardiogram, a digital health company,<ref>Lora Kolodny, [https://techcrunch.com/2016/10/20/cardiogram-raises-2-million-to-predict-heart-health-issues-using-wearbles/ "Cardiogram raises $2 million to predict heart health issues using wearables,"] TechCrunch, October 20, 2016.</ref> and in Apeel Sciences, a food science business.<ref>{{Cite web |date=December 13, 2016 |title=Apeel Sciences raises $33 million to keep your food from going bad |url=http://www.siliconbeat.com/2016/12/13/apeel-sciences-raises-33-million-keep-food-from-going-bad/ |access-date=November 19, 2019 |website=SiliconBeat |language=en-US |archive-date=April 30, 2017 |archive-url=https://web.archive.org/web/20170430160951/http://www.siliconbeat.com/2016/12/13/apeel-sciences-raises-33-million-keep-food-from-going-bad/ |url-status=dead }}</ref>
In 2017, the firm invested in Sigma, Health IQ, Asimov, and Cadre.<ref>{{Cite web |last=Lawler |first=Ryan |title=Quixey alums launch Sigma, a platform to bring merits and certifications online |url=https://techcrunch.com/2017/01/20/sigma/ |access-date=January 25, 2017 |website=TechCrunch|date=January 20, 2017 }}</ref><ref>{{Cite web |last=Loizos |first=Connie |title=Cadre collects $65 million in Series C funding {{!}} TechCrunch |date=June 6, 2017 |url=https://techcrunch.com/2017/06/06/cadre-collects-65-million-in-series-c-funding/ |access-date=June 21, 2017}}</ref><ref>{{Cite news |last=Roof |first=Katie |title=Health IQ raises $34.6 million for life insurance for healthy people |language=en |work=TechCrunch |url=https://techcrunch.com/2017/11/15/health-iq-raises-34-6-million-for-life-insurance-for-healthy-people/ |access-date=December 12, 2017}}</ref><ref>{{Cite web |title=Andreessen Horowitz leads seed round in MIT-born 'genetic circuits' startup |url=https://www.bizjournals.com/boston/news/2017/12/19/andreessen-horowitz-leads-seed-round-in-mit-born.html |access-date=January 16, 2018 |website=www.bizjournals.com}}</ref><ref>{{Cite news |last=Coldewey |first=Devin |title=Bio-programming toolkit maker Asimov launches with $4.7M from Andreessen Horowitz |language=en |work=TechCrunch |url=https://techcrunch.com/2017/12/19/bio-programming-toolkit-maker-asimov-launches-with-4-5m-from-andreessen-horowitz/ |access-date=January 16, 2018}}</ref>
In 2018, the firm raised $300 million for a dedicated cryptocurrency fund.<ref>{{Cite web |last=Loizos |first=Connie |title=Andreessen Horowitz has a new crypto fund — and its first female general partner is running it with Chris Dixon |url=https://techcrunch.com/2018/06/25/andreessen-horowitz-has-a-new-crypto-fund-and-its-first-female-general-partner-is-running-it-with-chris-dixon/ |access-date=March 5, 2019 |website=TechCrunch|date=June 25, 2018 }}</ref> It also invested in Imply, Smartcar, PeerStreet, CryptoKitties, Dfinity, Earnin, Pindrop, Tenfold, and Very Good Security.<ref>{{Cite web |last=Dorbian |first=Iris |date=March 13, 2018 |title=Imply grabs $13.3 mln Series A in Andreessen Horowitz-led round – PE Hub |url=https://www.pehub.com/2018/03/imply-grabs-13-3-mln-series-andreessen-horowitz-led-round/# |url-status=dead |archive-url=https://web.archive.org/web/20180615141132/https://www.pehub.com/2018/03/imply-grabs-13-3-mln-series-andreessen-horowitz-led-round/ |archive-date=June 15, 2018 |access-date=April 11, 2018 |website=PE Hub}}</ref><ref>{{Cite news |last=Davis |first=Alexander |date=March 1, 2018 |title=A Connected-Car Platform Fuels Its Tank With NEA, Andreessen |url=https://www.wsj.com/articles/a-connected-car-platform-fuels-its-tank-with-nea-andreessen-1519907401 |access-date=December 21, 2018}}</ref><ref>{{Cite news |title=CryptoKitties Wins $12 Million From Investors, Including Early Facebook Believer Andreessen Horowitz |language=en |work=Fortune |url=http://fortune.com/2018/03/20/cryptokitties-andreessen-horowitz-cryptocurrency-ethereum/ |access-date=April 11, 2018 |archive-date=April 12, 2018 |archive-url=https://web.archive.org/web/20180412001158/http://fortune.com/2018/03/20/cryptokitties-andreessen-horowitz-cryptocurrency-ethereum/ |url-status=dead }}</ref><ref>{{Cite news |last=Williams-Grut |first=Oscar |date=February 7, 2018 |title=Andreessen Horowitz is backing a crypto-powered 'internet computer' that could be the future of cloud computing |work=Business Insider |url=https://www.businessinsider.com/polychain-andreessen-horowitz-dfinity-2018-2 |access-date=July 3, 2018}}</ref><ref>{{Cite news |title=Very Good Security makes data 'unhackable' with $8.5M from Andreessen |work=TechCrunch |url=https://techcrunch.com/2018/08/28/very-good-security/}}</ref> In September 2018, Andreessen Horowitz participated in a Series A funding round in Applied Intuition, a software company specializing in products for autonomous vehicles (AVs), and Marc Andreessen joined the Applied Intuition board.<ref name=":WSJ2019">{{Cite web|date=September 12, 2019|title=Applied Intuition, Whose Software Tests Self-Driving Cars, Grabs $40 Million|url=https://www.wsj.com/articles/applied-intuition-whose-software-tests-self-driving-cars-grabs-40-million-11568286002|access-date=August 30, 2024|website=Wall Street Journal|language=en}}</ref><ref name=":Bloomberg2018">{{Cite web|date=September 12, 2018|title=How Self-Driving Cars Can Get Past the Learning Permit Stage, Without Any Risk|url=https://www.bloomberg.com/news/articles/2018-09-12/how-self-driving-cars-can-get-past-the-learning-permit-stage-without-any-risk|access-date=September 13, 2024|website=Bloomberg|language=en}}</ref>
In 2019, the firm provided $15.3 million in Series A funding to Substack, some of which went to bringing high-profile writers onto the platform.<ref name="NYmag-Aug20">{{cite news |last1=Walsh |first1=James D. |title=A Guide to the Newsletter Economy |url=https://nymag.com/intelligencer/2020/08/a-guide-to-the-substack-newsletter-economy.html |work=New York Magazine – Intelligencer |date=August 29, 2020 |language=en-us}}</ref> In June 2019, the firm also invested in a $9.2 million Series A round in AnyRoad, an experiential marketing platform, and David Ulevitch from Andreessen Horowitz joined the AnyRoad board.<ref>{{cite web |last1=Ulevitch |first1=David |title=AnyRoad - Andreessen Horowitz |url=https://a16z.com/2019/06/04/anyroad/ |website=Andreessen Horowitz |date=June 4, 2019 |access-date=November 14, 2021}}</ref>
====2020==== In 2020, the firm led a $150 million Series G round in Roblox, a social video game platform for children.<ref name="wsjrbx">{{Cite news |last=Needleman |first=Sarah E. |date=February 26, 2020 |title=Roblox Valued at $4 Billion as Investors Bet on Future of Gaming |language=en-US |work=Wall Street Journal |url=https://www.wsj.com/articles/roblox-raises-150-million-in-funding-in-bet-on-metaverse-11582754400 |access-date=February 27, 2020 |issn=0099-9660}}</ref><ref name="tcrbx">{{Cite news |last=Perez |first=Sarah |date=February 26, 2020 |title=Roblox raises $150M Series G, led by Andreessen Horowitz, now valued at $4B |language=en-US |work=TechCrunch |url=https://techcrunch.com/2020/02/26/roblox-raises-150m-series-g-led-by-andreessen-horowitz-now-valued-at-4b/ |archive-url=https://web.archive.org/web/20200227073121/https://techcrunch.com/2020/02/26/roblox-raises-150m-series-g-led-by-andreessen-horowitz-now-valued-at-4b/ |url-status=dead |archive-date=February 27, 2020 |access-date=February 27, 2020}}</ref>
In April 2020, the firm led a $50 million Series D round in Figma, a vector graphics editor and prototyping tool.<ref>{{Cite news |date=April 30, 2020 |title=Figma Eyes Acquisitions, New Tools With $50 Million In Fresh Funding At $2 Billion Valuation |work=Forbes |url=https://www.forbes.com/sites/alexkonrad/2020/04/30/figma-raises-funding-eyes-acquisitions/#2f61e4b011ea}}</ref>
Also in April 2020, the firm raised $515 million for a second cryptocurrency-focused fund.<ref>{{Cite web |date=April 30, 2020 |title=Crypto Fund II |url=https://a16z.com/2020/04/30/crypto-fund-ii/ |access-date=January 16, 2021 |language=en}}</ref>
In May 2020, the firm made a $12 million Series A investment in Clubhouse ($10 million in primary capital plus $2 million toward purchasing shares), an audio-chat social networking app valued at nearly $100 million as of December 2020.<ref>{{Cite web |last=Konrad |first=Alex |title=Andreessen Horowitz Wins VC Sweepstakes To Back Clubhouse, Voice App Still In Beta, At $100 Million Valuation |url=https://www.forbes.com/sites/alexkonrad/2020/05/15/andreessen-horowitz-wins-vc-sweepstakes-to-back-clubhouse-voice-app/ |access-date=January 6, 2021 |website=Forbes |language=en}}</ref><ref>{{Cite news |last=Lorenz |first=Taylor |date=December 23, 2020 |title=Clubhouse Makes Way for Influencers |language=en-US |work=The New York Times |url=https://www.nytimes.com/2020/12/23/style/clubhouse-app-influencers.html |access-date=January 6, 2021 |issn=0362-4331}}</ref>
====2021==== In January 2021, the firm led a $100 million Series B for the audio-chat social networking app Clubhouse, reportedly valuing it at $1 billion.<ref>{{Cite web |title=Clubhouse announces plans for creator payments and raises new funding led by Andreessen Horowitz |url=https://techcrunch.com/2021/01/24/clubhouse-announces-plans-for-creator-payments-and-raises-new-funding-led-by-andreessen-horowitz/ |access-date=February 2, 2021 |website=TechCrunch |date=January 24, 2021 |language=en-US }}</ref> In April 2021, it led a $220 million Series D for mobile banking and fintech company Current.<ref>{{Cite web|last=Auchterlonie|first=Tom|title=Current emerges as a model for teen-focused neobanks as its user base soars|url=https://www.businessinsider.com/current-nearly-triples-user-growth-pointing-way-forward-for-peers-2021-4|access-date=June 14, 2021|website=Business Insider|language=en-US}}</ref><ref>{{Cite web|title=Mobile bank Current raises $220 million Series D, triples valuation to $2.2B|url=https://techcrunch.com/2021/04/27/mobile-bank-current-raises-220-million-series-d-triples-valuation-to-2-2b/|access-date=June 14, 2021|website=TechCrunch|date=April 27, 2021|language=en-US}}</ref>
In July 2021, the firm led a $100 million Series A for the NFT marketplace OpenSea, reportedly valuing it at $1.5 billion.<ref>{{Cite web|url=https://techcrunch.com/2021/07/20/nft-market-opensea-hits-1-5-billion-valuation/|title = NFT market OpenSea hits $1.5 billion valuation| date=July 20, 2021 }}</ref>
In September 2021, the firm led an $18 million Series A fundraise in Pearl Health, a healthcare technology company.<ref>{{Cite web|url=https://a16z.com/2021/09/22/investing-in-pearl-health/|title=Investing in Pearl Health|access-date=September 22, 2021|website=Andreessen Horowitz}}</ref>
In October 2021, the firm led a $150M Series B round at a $3B valuation in Vietnamese studio Sky Mavis, the developer of the crypto-based online game Axie Infinity.<ref>{{Cite web|url=https://a16z.com/2021/10/05/investing-in-axie-infinity/|title=Investing in Axie Infinity|first=Arianna|last=Simpson|date=October 5, 2021|website=Andreessen Horowitz}}</ref><ref>{{Cite news |last=Clark |first=Kate |date=October 4, 2021 |title=Andreessen Horowitz Values Developer of NFT Game Axie Infinity at $3 Billion |work=The Information |url=https://www.theinformation.com/articles/andreessen-horowitz-values-developer-of-nft-game-axie-infinity-at-3-billion |access-date=}}</ref>
In December 2021, crowdfunding platform Kickstarter received a $100 million investment from the firm's crypto fund with the expectation that it would pivot to blockchain technology. The decision to pivot backfired, alienating many of Kickstarter's users, and ended up damaging its reputation.<ref>{{Cite web |url=https://finance.yahoo.com/news/untold-story-kickstarter-crypto-hail-120000205.html |title=The untold story of Kickstarter's crypto Hail Mary—and the secret $100 million a16z-led investment to save its fading brand |date=March 11, 2024 |last1=Schwartz |first1=Leo |last2=Mathews |first2=Jessica |work=Fortune |via=Yahoo! Finance}}</ref><ref>{{cite web|url=https://techcrunch.com/2021/12/08/kickstarter-plans-to-move-its-crowdfunding-platform-to-the-blockchain/ |title=Kickstarter plans to move its crowdfunding platform to the blockchain |publisher=Techcrunch |date=January 15, 2021 |last=Matney |first=Lucas}}</ref>
====2022==== In March 2022, Andreessen Horowitz led the round to raise $450 million at a $4B valuation in Yuga Labs (known for Bored Apes).<ref>{{Cite web|url=https://techcrunch.com/2022/03/22/bored-apes-nft-startup-yuga-labs-raises-seed-round-at-monster-4-billion-valuation/|title = Bored Apes NFT startup Yuga Labs raises seed round at monster $4B valuation – TechCrunch|date=March 22, 2022}}</ref> In October 2022, it was reported that the U.S. Securities and Exchange Commission (SEC) was investigating Yuga Labs due to concerns that sales of their digital assets violated investment laws.<ref>{{Cite news |last=Robinson |first=Matt |date=October 11, 2022 |title=Bored-Ape Creator Yuga Labs Faces SEC Probe Over Unregistered Offerings |publisher=Bloomberg UK |url=https://www.bloomberg.com/news/articles/2022-10-11/bored-ape-creator-yuga-labs-faces-sec-probe-over-unregistered-offerings?srnd=premium |access-date=October 13, 2022}}</ref>
In March 2022, the firm led a $27 million Series A for Rutter, a universal API for commerce data.<ref>{{Cite news |last=Hall |first=Christine |date=March 15, 2022 |title=a16z backs Rutter's goal of being 'Plaid for commerce' |work=TechCrunch |url=https://techcrunch.com/2022/03/15/a16z-backs-rutters-goal-of-being-plaid-for-commerce/}}</ref>
In March 2022, the firm and Lux Capital co-led a $90 million round for Los Angeles–based machine-parts startup Hadrian Automation.<ref>{{Cite news |last=Sheetz |first=Michael |date=March 31, 2022 |title=Machine-parts start-up Hadrian raises $90 million as it seeks to shake up the aerospace supply chain |publisher=CNBC |url=https://www.cnbc.com/2022/03/31/machining-start-up-hadrian-raises-90-million-from-andreesen-lux.html}}</ref>
In April 2022, it led a $12 million Series A round for Bounce, a marketplace for consumers to access underutilized space in local businesses.<ref>{{Cite web |last=Lomas |first=Natasha |date=April 26, 2022 |title=How Bounce beat pandemic disruption and bagged $12M to grow |url=https://techcrunch.com/2022/04/26/bounce-series-a-a16z/ |access-date=October 30, 2024 |website=TechCrunch |language=en-US}}</ref>
In May 2022, the firm announced the launch of its largest fund to date at $4.5 billion. The fund is set to focus on cryptocurrency and blockchain technologies. The firm said that $1.5 billion was allocated to seed investments, while the remaining $3 billion would be earmarked for venture investments.<ref>{{cite journal|date=May 25, 2022|url=https://www.ft.com/content/47b05080-67ac-4468-b530-76325d6aba35|title=Andreessen Horowitz bets on crypto 'golden era' with new $4.5bn fund|journal=Financial Times|access-date=May 25, 2022}}</ref>
In August 2022, the firm announced it would invest about $350 million in Flow, a real estate organization begun by WeWork founder Adam Neumann. Flow's purported aim is to create a branded product in the housing market with consistent community features, reimagining how real estate works in the U.S.<ref>{{cite journal|date=August 15, 2022|url=https://www.nytimes.com/2022/08/15/business/dealbook/adam-neumann-flow-new-company-wework-real-estate|title=Adam Neumann Gets a New Backer|journal=The New York Times|access-date=August 15, 2022}}</ref> The decision was met with some criticism due to Neumann's business issues during his time at WeWork.<ref>{{cite journal|date=August 15, 2022|url=https://www.vice.com/en/article/nimby-marc-andreessen-gives-weworks-adam-neumann-dollar350-million-to-uhh-solve-the-housing-crisis/|title=NIMBY Marc Andreessen Gives WeWork's Adam Neumann $350 Million to, Uhh, Solve the Housing Crisis|journal=Vox|access-date=August 15, 2022}}</ref>
The firm committed to $400 million in equity investment toward the acquisition of Twitter by Elon Musk that completed in October 2022.<ref>{{cite web |url=https://www.wsj.com/articles/sequoia-capitals-roelof-botha-predicts-success-for-elon-musk-at-twitter-11666747888 |title=Sequoia Capital's Roelof Botha Predicts Success for Elon Musk at Twitter |date=October 25, 2022 |work=The Wall Street Journal |last=Jin |first=Berber |url-access=limited |archive-url=https://archive.today/20221026042325/https://www.wsj.com/amp/articles/sequoia-capitals-roelof-botha-predicts-success-for-elon-musk-at-twitter-11666747888 |archive-date=October 26, 2022 |url-status=live}}</ref><ref>{{cite news |url=https://www.washingtonpost.com/technology/2022/10/31/elon-musk-twitter-layoffs/ |title=Musk's inner circle worked through weekend to cement Twitter layoff plans |date=October 31, 2022 |newspaper=The Washington Post |last1=Dwoskin |first1=Elizabeth |last2=Siddiqui |first2=Faiz |archive-url=https://archive.today/20221031200731/https://www.washingtonpost.com/technology/2022/10/31/elon-musk-twitter-layoffs/ |archive-date=October 31, 2022 |url-status=live}}</ref> According to ''The Washington Post'', by September 2024, the firm had lost $288 million on its Twitter investment.<ref>{{cite web |url=https://www.washingtonpost.com/technology/2024/09/01/musk-twitter-investors-underwater/ |title=Musk’s Twitter investors have lost billions in value |date=September 1, 2024 |work=The Washington Post |last=Siddiqui |first=Faiz |url-access=limited |archive-url=https://archive.today/20240901213524/https://www.washingtonpost.com/technology/2024/09/01/musk-twitter-investors-underwater/#selection-731.0-731.13 |archive-date=September 1, 2024 |url-status=live}}</ref> Andreessen Horowitz also invested in Musk's AI firm xAI, which acquired Twitter in April 2025 for $45 billion, including debt.<ref>{{Cite web |last=Hyatt |first=John |date=April 2, 2025 |title=Elon Musk Scores $33 Billion In Self-Serving Merger |url=https://www.forbes.com/sites/johnhyatt/2025/04/02/the-xai-x-deal-is-a-33-billion-windfall-for-elon-musk/ |access-date=2025-08-17 |website=Forbes |language=en}}</ref>
====2023==== Andreessen Horowitz launched the accelerator program a16z speedrun in 2023. Based in San Francisco and Los Angeles, the accelerator program initially focused on funding pre-seed gaming start-ups with investments of up to $750,000 per company.<ref name="Fortune 4.3.25">{{cite news |last1=Garfinkle |first1=Allie |title=Why a16z's 'speedrun' accelerator is playing a new game. |url=https://fortune.com/2025/04/02/why-a16zs-speedrun-accelerator-is-playing-a-new-game/ |access-date=4 October 2025 |publisher=Fortune |date=3 April 2025}}</ref><ref name="Bloomberg 9.3.25">{{cite news |last1=Clark |first1=Kate |title=Andreessen Horowitz's Quiet Accelerator Woos New Founders. |url=https://www.bloomberg.com/news/articles/2025-09-02/andreessen-horowitz-s-quiet-accelerator-woos-new-founders |access-date=4 October 2025 |publisher=Bloomberg |date=3 September 2025}}</ref> The program is named for the popular gaming term “speedrunning,” which means to finish a game as quickly as possible.<ref name="Fortune 4.3.25" />
==== 2025 ==== In 2025, speedrun refocused to include start-ups in all industries. In that same year, the program increased its maximum investments from $750,000 to up to $1 million and expanded to accept more companies for each cohort (about 60 per cohort).<ref name="Fortune 4.3.25" /><ref name="Bloomberg 9.3.25" /><ref name="GamesIndustry.biz 9.3.25">{{cite news |last1=McEvoy |first1=Sophie |title=A16Z Speedrun to invest up to $1m in startups |url=https://www.gamesindustry.biz/a16z-speedrun-to-invest-up-to-1m-in-startups |access-date=4 October 2025 |publisher=GamesIndustry.biz |date=3 September 2025}}</ref> The acceptance rate has declined to be less than 1%.<ref name="Bloomberg 9.3.25" /> In addition to funding, awardees are also granted access to exclusive events, networking and marketing opportunities, and credit to select software to build their business.<ref name="Bloomberg 9.3.25" /><ref name="Inc.com 9.3.25">{{cite news |last1=Sherry |first1=Ben |title=How to Apply to Andreessen Horowitz’s 12-Week Mentorship Program |url=https://www.inc.com/ben-sherry/how-to-apply-to-andreessen-horowitzs-12-week-mentorship-program/91235269 |access-date=6 October 2025 |publisher=Inc. Magazine |date=3 September 2025}}</ref> Andreessen Horowitz has also stated a vested interest in continuing relationships with members as they grow, and has provided increased funding for former cohort members following their time in speedrun.<ref name="Bloomberg 9.3.25" /><ref name="TechCrunch 5.15.25">{{cite news |last1=Mehta |first1=Ivan |title=Hedra, the app used to make talking baby podcasts, raises $32M from a16z |url=https://techcrunch.com/2025/05/15/hedra-the-app-used-to-make-talking-baby-podcasts-raises-32m-from-a16z/ |access-date=29 October 2025 |publisher=TechCrunch |date=15 May 2025}}</ref><ref name="The Straits Times 6.25.24">{{cite news |last1=Wee |first1=Gladys |title=S’pore start-up k-ID secures $61m to expand tech that protects young gamers from online harms |url=https://www.straitstimes.com/business/s-pore-start-up-k-id-secures-609m-to-expand-tech-that-protects-young-gamers-from-online-harms |access-date=3 November 2025 |publisher=The Straits Times |date=25 June 2024}}</ref>
==== 2026 ==== In April 2026, the company co-led a $100 million investment round in Stipple Bio, a US healthcare start-up.<ref>{{Cite web |last=Cuccinello |first=Hayley |date=2026-05-07 |title=Family office deal-making rebounds in April with healthcare bets |url=https://www.cnbc.com/2026/05/07/family-office-dealmaking-april-healthcare-bets.html |access-date=2026-05-26 |website=CNBC |language=en}}</ref>
In May 2026, Andreessen Horowitz invested in a $113 million series B round in OpenRouter, a US artificial intelligence company.<ref>{{Cite web |last=Bort |first=Julie |date=2026-05-26 |title=OpenRouter more than doubles valuation to $1.3B in a year |url=https://techcrunch.com/2026/05/26/openrouter-more-than-doubles-valuation-to-1-3b-in-a-year/ |access-date=2026-05-26 |website=TechCrunch |language=en-US}}</ref>
==Funds raised== The following table lists the primary capital raises by Andreessen Horowitz since its founding in 2009.<ref name="a16z-about">{{cite web |title=Who We Are |url=https://a16z.com/about/ |website=Andreessen Horowitz |access-date=11 March 2026}}</ref>
{| class="wikitable sortable" |- ! # !! Fund name !! Category !! Date announced !! Amount !! Source |- | 1 || Fund I || Venture || July 2009 || $300M || [https://archive.nytimes.com/dealbook.nytimes.com/2009/07/06/andreessen-horowitz-launches-300-million-fund/ NYT] |- | 2 || Fund II || Venture || November 2010 || $650M || [https://a16z.com/ a16z] |- | 3 || Fund III || Venture || January 2012 || $900M || [https://www.wsj.com/articles/SB10001424052970204661604577189191024623192 WSJ] |- | 4 || Fund IV || Venture || March 2014 || $1.5B || [https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001603978&type=D&dateb=&owner=include&count=40 SEC] |- | 5 || Fund V || Venture || June 2016 || $1.5B || [https://fortune.com/2016/06/09/andreessen-horowitz-fund-v/ Fortune] |- | 6 || Fund VI || Venture || May 2019 || $2B || [https://www.axios.com/andreessen-horowitz-2-billion-venture-fund-2280d965-0a37-4581-8092-23c36c645b9a Axios] |- | 7 || Fund VII || Venture || November 2020 || $1.3B || [https://techcrunch.com/2020/11/17/a16z-4-5-billion/ TechCrunch] |- | 8 || Fund VIII || Venture || January 2022 || $2.5B || [https://a16z.com/2022/01/07/9-billion-to-back-the-future/ a16z] |- | 9 || Fund IX || Venture || April 2024 || $1.25B || [https://www.reuters.com/business/finance/andreessen-horowitz-raises-72-billion-new-funds-2024-04-16/ Reuters] |- | 10 || Fund X || Venture || January 2026 || $1.25B || <ref name="a16z-Jan2026">{{cite web|url=https://a16z.com/why-did-we-raise-15b/|title=Why Are We Here? Why Did We Raise $15B?|author=Horowitz, Ben|date=January 9, 2026|access-date=March 21, 2026}}</ref> |- | 11 || Growth I || Growth || March 2014 || $1.5B || [https://techcrunch.com/2014/03/27/andreessen-horowitz-raises-massive-new-1-5-billion-fund/ TechCrunch] |- | 12 || Growth II || Growth || May 2019 || $2B || [https://www.axios.com/ Axios] |- | 13 || Growth III || Growth || November 2020 || $3.2B || [https://techcrunch.com/2020/11/17/a16z-4-5-billion/ TechCrunch] |- | 14 || Growth IV || Growth || January 2022 || $5B || [https://a16z.com/2022/01/07/9-billion-to-back-the-future/ a16z] |- | 15 || Growth V || Growth || January 2026 || $6.75B || <ref name="a16z-Jan2026" /><ref name="Ax-Jan2026">{{cite web|url=https://www.axios.com/2026/01/09/andreessen-horowitz-15-billion-for-new-funds|title=Andreessen Horowitz raises $15 billion for new funds|date=January 9, 2026|access-date=March 21, 2026|author=Primack, Dan}}</ref> |- | 16 || Crypto I || Web3 || June 2018 || $300M || [https://a16z.com/2018/06/25/a16z-crypto/ a16z] |- | 17 || Crypto II || Web3 || April 2020 || $515M || [https://www.theblock.co/linked/63613/a16z-crypto-fund-ii-515-million The Block] |- | 18 || Crypto III || Web3 || June 2021 || $2.2B || [https://www.cnbc.com/2021/06/24/andreessen-horowitz-launches-2point2-billion-crypto-fund.html CNBC] |- | 19 || Crypto IV || Web3 || May 2022 || $4.5B || [https://a16z.com/2022/05/25/announcing-a16z-crypto-fund-iv/ a16z] |- | 20 || Crypto V || Web3 || March 2026 || $2B || [https://www.binance.com/en/square/post/03-04-2026-andreessen-horowitz-plans-2-billion-crypto-fundraising-effort-for-2026-298087240854849 Binance] |- | 21 || Bio + Health I || Life Sciences || November 2015 || $200M || [https://www.forbes.com/sites/alexkonrad/2015/11/30/andreessen-horowitz-bio-fund/ Forbes] |- | 22 || Bio + Health II || Life Sciences || December 2017 || $450M || [https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001726332&type=D&dateb=&owner=include&count=40 SEC] |- | 23 || Bio + Health III || Life Sciences || January 2022 || $1.5B || [https://a16z.com/2022/01/07/9-billion-to-back-the-future/ a16z] |- | 24 || Bio + Health IV || Life Sciences || January 2026 || $700M || <ref name="a16z-Jan2026" /><ref name="Ax-Jan2026" /> |- | 25 || American Dynamism I || Defense/Hard Tech || May 2023 || $500M || [https://a16z.com/its-time-to-build-for-america/ a16z] |- | 26 || American Dynamism II || Defense/Hard Tech || January 2026 || $1.18B || <ref name="a16z-Jan2026" /><ref name="Ax-Jan2026" /> |- | 27 || Games I || Gaming || May 2022 || $600M || [https://a16z.com/2022/05/18/announcing-games-fund-one/ a16z] |- | 28 || Games II || Gaming || April 2024 || $600M || [https://www.reuters.com/business/finance/andreessen-horowitz-raises-72-billion-new-funds-2024-04-16/ Reuters] |- | 29 || Cultural Leadership I || Social Impact || August 2018 || $18M || [https://techcrunch.com/2018/08/09/andreessen-horowitz-closes-cultural-leadership-fund/ TechCrunch] |- | 30 || Apps Fund || AI/SaaS || January 2026 || $1.7B || <ref name="a16z-Jan2026" /><ref name="Ax-Jan2026" /> |- | 31 || Infrastructure Fund || AI/Data || January 2026 || $1.7B || <ref name="a16z-Jan2026" /><ref name="Ax-Jan2026" /> |- | 32 || Other Venture Strategies || Specialty || January 2026 || $3B || <ref name="a16z-Jan2026" /><ref name="Ax-Jan2026" /> |}
==Structure== Andreessen Horowitz partners work on behalf of all its portfolio companies, an approach modeled after the Hollywood talent agency Creative Artists Agency.<ref name="Financial Times">{{Cite news |last=Menn |first=Joseph |title=Andreessen expands venture capital business |url=http://www.ft.com/intl/cms/s/0/af5c1a7c-e717-11df-880d-00144feab49a.html?ftcamp=rss#axzz1gRgXwx3C |access-date=April 14, 2012 |newspaper=Financial Times |date=November 3, 2010 |publisher=The Financial Times}}</ref> In 2010, the company hired Margit Wennmachers, a marketing executive at the partner level.<ref name="NYTimes Bits">{{Cite news |last=Cain Miller |first=Claire |date=June 15, 2010 |title=Andreessen Horowitz Hires a Female Partner |work=The New York Times |url=http://bits.blogs.nytimes.com/2010/06/15/andreessen-horowitz-hires-a-female-partner-from-outcast-communications/ |access-date=April 19, 2012}}</ref>
As of 2011, the firm had maintained a database of designers, coders, and executives and used it to help fill positions at its startups.<ref name="The Economist">{{Cite news |date=September 3, 2011 |title=Disrupting the disrupters |work=Technology Quarterly: Q3 2011 |publisher=The Economist |url=https://www.economist.com/technology-quarterly/2011/09/03/disrupting-the-disrupters |access-date=April 14, 2012}}</ref> Former U.S. Treasury Secretary Larry Summers became a special advisor to Andreessen Horowitz in June 2011.<ref name="GigaOM June 2011">{{Cite news |last=Fielding |first=Cortney |date=June 29, 2011 |title=Larry Summers to join VC firm Andreessen Horowitz |work=GigaOM |url=http://gigaom.com/2011/06/29/larry-summers-to-join-vc-firm-andreessen-horowitz/ |access-date=September 28, 2012 |archive-date=July 5, 2012 |archive-url=https://web.archive.org/web/20120705085726/http://gigaom.com/2011/06/29/larry-summers-to-join-vc-firm-andreessen-horowitz/ |url-status=dead }}</ref>
In 2012, former Washington D.C. mayor Adrian Fenty was appointed Andreessen Horowitz's second special advisor.<ref name="WSJ Sept 2012">{{Cite news |last=Tam |first=Pui-Wing |date=September 26, 2012 |title=Andreessen Horowitz's New Political Mover-and-Shaker: Adrian Fenty |work=The Wall Street Journal |url=https://blogs.wsj.com/digits/2012/09/26/andreessen-horowitzs-new-political-mover-and-shaker-adrian-fenty/ |access-date=September 28, 2012}}</ref> Fenty was hired to advise the firm's portfolio companies on working with local, state, and federal governments.<ref name="GigaOM June 2011" />
In 2019, the firm applied to restructure as a registered investment adviser in order to have more freedom to take on riskier bets like cryptocurrency.<ref>{{Cite web |last=Gaus |first=Annie |date=April 2, 2019 |title=Andreessen Horowitz, Silicon Valley VC Firm, to Refocus on High-Risk Crypto Bets |url=https://www.thestreet.com/investing/cryptocurrency/andreesen-horowitz-silicon-valley-vc-firm-to-refocus-on-high-risk-crypto-bets-14915423 |access-date=April 3, 2019 |website=TheStreet |language=en}}</ref><ref>{{Cite web |last=Konrad |first=Alex |title=Andreessen Horowitz Is Blowing Up The Venture Capital Model (Again) |url=https://www.forbes.com/sites/alexkonrad/2019/04/02/andreessen-horowitz-is-blowing-up-the-venture-capital-model-again/ |access-date=April 3, 2019 |website=Forbes |language=en}}</ref>
== References == {{Reflist}}
==External links== {{commonscat|Andreessen Horowitz}} * {{Official website}} * [https://web.archive.org/web/20130509200013/http://nowaternomoon.com/post/49246444743/frank-chen-partner-at-andreessen-horowitz-are-you-a Frank Chen, Partner at Andreessen Horowitz: 'Are you a mercenary or a missionary?'] (April 24, 2013) {{Andreessen Horowitz}}
Category:Andreessen Horowitz Category:Venture capital firms of the United States Category:Companies based in Menlo Park, California Category:Financial services companies established in 2009 Category:2009 establishments in California Category:American companies established in 2009