Andreessen Horowitz (or a16z, as it’s sometimes called) announced today that it has raised $1.5 billion for its Fund III. The venture capital firm has now raised a total of $2.7 billion since its founding in June 2009.
Co-founder and General Partner Ben Horowitz has a post on his blog with some detail on the thought process behind this step:
Since Marc and I founded Andreessen Horowitz three years ago, we have raised $2.7 billion. That statement begs a few questions. The two most obvious are:
- Why did such a new venture capital firm raise so much money?
- How did such a new venture capital firm raise so much money?
And for the answer to those questions, read the post above, since it isn’t very condensable into a soundbite. 🙂