a16z brings growth fund to $8.5B days after launching new $1.1B fund

In Brief

Venture superior steadfast Andreessen Horowitz has expanded its 5th maturation money to $8.5 billion. That means the steadfast added different $1.75 cardinal since the money launched successful January with $6.75 billion.

The firm’s announcement comes conscionable days aft a16z announced it had raised a caller $1.1 billion for a caller and antithetic money that it’s calling the “Machine Age Fund.” The fund’s throwback, steampunk-esque sanction reflects its absorption connected AI hardware startups processing chips, memory, networking, and storage.

As the maturation fund’s sanction implies, it is currency dedicated to backing growth-stage startups that are ramping up products, expanding into caller geographies, and scaling conscionable astir everything else.

Over 7 years, the maturation money has invested successful much than 100 companies, David George, a wide spouse who leads the maturation concern team, wrote successful his announcement blog. But successful this property of AI, companies are reaching the maturation signifier faster and gobbling up much currency astatine higher valuations than ever, too.

With these billions, a16z is pursuing endeavor and user AI tech, defence tech, robotics, infrastructure hardware and software, and wellness tech — truly the full stack. In this predetermination year, it is besides spending large connected authorities and lobbying.

These caller funds travel the $15 cardinal successful caller backing a16z announced successful January. At the time, it had $90 cardinal of assets nether management.

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