Andreessen Horowitz, better known as a16z, has increased the size of its fifth growth fund to $8.5 billion from the $6.75 billion level set in January, according to TechCrunch. The increase adds $1.75 billion in fresh capital to a vehicle aimed at growth-stage startups that are expanding products, entering new markets, and scaling operations. The move came only days after the firm said it had raised $1.1 billion for its American Dynamism-focused “Machines” fund, which targets AI hardware and related infrastructure startups across chips, memory, networking, and data storage. David George, who leads a16z’s growth investing team, said the firm’s growth funds have backed more than 100 companies over the past seven years. He also said AI companies are reaching the growth stage faster, while their capital needs and valuations are increasing. The firm is currently focused on enterprise and consumer AI, defense technology, robotics, software and hardware infrastructure, and healthcare technology.
Andreessen Horowitz, or a16z, has increased its fifth growth fund to $8.5 billion from the $6.75 billion level set in January this year, according to TechCrunch. The latest raise adds $1.75 billion to the fund.
The vehicle is aimed at growth-stage startups that are expanding products, entering new markets, and scaling their businesses.
a16z adds to fundraising activity
The expansion came just days after a16z said it had closed a $1.1 billion Machines fund. That fund is focused on AI hardware, with investments spanning infrastructure startups in chips, memory, networking, and data storage.
Focus areas include AI and infrastructure
David George, head of a16z’s growth investing team, said the firm’s growth funds have invested in more than 100 companies over the past seven years. He said AI companies are moving into the growth stage more quickly, while their funding needs and valuations are also rising.
a16z is currently focusing on enterprise and consumer AI, defense technology, robotics, software and hardware infrastructure, and healthcare technology.
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