Andreessen Horowitz, better known as a16z, and its co-founders Marc Andreessen and Ben Horowitz have contributed more than $115 million to activities tied to the current U.S. midterm election cycle, according to a New York Times analysis based on Federal Election Commission data. That total puts the firm ahead of George Soros-linked entities and Elon Musk, making it the largest known donor of the cycle so far.
The scale is far above the firm’s previous level of election spending. The report says a16z-related political donations were about $63 million in the 2024 cycle, compared with $115.5 million in the current one. On November 6, 2024, the day after the last presidential election, a16z put more than $23 million into two core crypto super PACs, signaling that its political strategy would continue well beyond a single campaign season.
Crypto and AI are both central to the spending plan
Much of the money has gone to industry-focused political groups. Since the 2024 election, a16z has directed $47.5 million to the crypto super PAC network Fairshake. The firm also backed an AI-focused super PAC called Leading the Future, modeled in part on Fairshake, with total funding reaching $50 million.
The spending also includes direct support for Republican political vehicles. a16z and its two founders together gave $12 million to Trump’s super PAC MAGA Inc., including a $6 million contribution in March. In that same month, a trust tied to Andreessen donated nearly $900,000 to the Republican National Committee. At the same time, both Fairshake and Leading the Future have used a bipartisan approach, supporting candidates from both parties.
Venture capital tactics are being carried into Washington
Founded in 2009, a16z is one of Silicon Valley’s best-known venture firms and was an early backer of companies including Coinbase and Instagram. Regulatory filings cited in the report show that many of the large donations attributed to Andreessen and Horowitz came from a16z entities fully owned by the two founders. The reported $115.5 million does not include tens of millions of dollars recently given to the AI nonprofit advocacy group American Innovators Network, because that type of organization does not have to disclose detailed donor records.
Andreessen said in a post-election podcast that political participation had to become a “permanent mission.” The report also says he spent about half his time at Mar-a-Lago before Trump’s second term began, helping with the transition, and informally advised the Department of Government Efficiency linked to Musk. Two former a16z partners have joined the administration, including one working on AI regulation, while Andreessen himself joined a top White House technology advisory board in March.
The backlash is coming from inside and outside the firm’s orbit
The spending push has triggered criticism on several fronts. Internally, early a16z partner John O’Farrell resigned from a part-time advisory role in May last year after disagreements over politics. He publicly criticized both Fairshake and Leading the Future, along with technology figures he said were moving too close to the current administration.
Outside the firm, progressive critics have attacked the size of a16z’s influence in elections. On AI policy, an opposing super PAC called Public First was formed in part to counter the political reach of a16z and its allies. New York state lawmaker Alex Bores, who is running for Congress with backing from that group, said venture capital’s logic of rapid scaling should not be applied to politics.
There is skepticism on the Republican side as well. Some Republicans have privately objected to the bipartisan stance taken by Fairshake and Leading the Future, arguing that crypto and AI policy already align more naturally with Republican priorities. The report says a16z’s political and lobbying operation in Washington is overseen by former congressional aide and Republican strategist Collin McCune, who tracks both super PACs and keeps Andreessen updated on policy and political developments.