[NEWS] A16z ushers in new fund strategy with $2.75B – Loganspace

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[NEWS] A16z ushers in new fund strategy with $2.75B – Loganspace


Andreessen Horowitz,the storied mission capital company with investments inAirbnb,BuzzFeedandCoinbase,has closed on $2.75 billion for two recent funds, the company confirmed in aweblog submitthis morning.

The company has raised $2 billion for its debut unhurried-stage fund led by their most most in fashion hire and15th general companion David George. Additionally, a16z has lassoed $750 million for its sixth flagship early-stage fund.

“Why no longer name it a boost fund? We imagine that “boost” is a loaded, one-size-suits-all term that no longer only manner very different things to different contributors, but encompasses very different forms of investors and a huge vary of financings (every part from a $30 million Series C financing to a $1 billion Series G and previous),” a16z managing director Scott Kupor wrote within the fund announcement.

This comes about a month afterForbesexplained a16z’srecent set as a financial consultantin build of a broken-down mission capital fund.

The a16z mannequin, one which couples capital with company-take care of companies and products, has for years been replicated by different gargantuan mission firms. Now, a16z expects to book the cost again by turning itself into a registered funding consultant.

The switch will allow a16z to experiment in recent areas, including the general public markets, different VC funds and cryptocurrencies.

George is investing across industries, providing up his records of unhurried-stage economics, valuations and underwriting to a16z’s truthful and rising group of deal-makers. George is the no longer lower than the fourth high-level addition to the group within the final yr, including Katie Haun, who joined in June to book a16z’s cryptocurrency funding effort.Angela UncommonandConnie Chan,furthermore, were promoted to GP final summer.

A16z’s fifth flagship mission fund closed on $1.5 billion in 2016. The company also deploys capital out of a$300 million crypto fund, a bio fund and a cultural fund, which boasts tiny partners including Sean “Diddy” Combs, Shonda Rhimes and Jada Pinkett Smith.