VC firm Andreessen Horowitz plans to raise billions for AI, with portions devoted to two funds
Silicon Valley venture capital giant Andreessen Horowitz is aiming to raise $6.9 billion from investors for a new collection of funds, including two focused on artificial intelligence, according to a person familiar with the matter.
The firm is raising the money for a master fund, with half the amount going to the firm’s fourth growth fund, said the person, who asked not to be identified discussing private information. Two years ago, it raised $5 billion for its growth vehicle.
The remaining half of the new fundraise will go toward two dedicated artificial intelligence funds, a gaming fund and a fund to back startups in a field it calls American Dynamism, the person said. The firm defines American Dynamism as companies that “address our most pressing issues” in the US, including in sectors like aviation, defense and manufacturing.
Andreessen Horowitz will wait until next year before raising more cash for its crypto and bio funds, the person said. Andreessen Horowitz dedicated $4.5 billion to crypto funds in 2022.
The firm didn’t immediately respond to a request for comment. News of this year’s fundraising was earlier reported by Axios.
Source link
