The company confirmed in a blog this morning that Andreessen Horowitz (a16z) has closed a pair of funds totaling $4.5 billion. The company has raised $1.3 billion in early-stage funding, focusing on consumers, businesses, and financial technology.
And closed a US$3.2 billion growth stage fund for later investment. The company did not immediately respond to a request for comment.
Given the scale of new funds raised by venture capital firms in recent years, these funds seem somewhat typical. However, considering that a16z was founded 11 years ago and has offices in Menlo Park and San Francisco, this is not a small amount.
Equally striking is that they bring the company’s total assets under management to $16.5 billion. Just 20 months ago, a16z ended its latest pair of funds, the $2 billion late-stage fund, and the $740 million flagship early-stage fund.
It also announced a separate $515 million fund focused on cryptocurrencies in April this year, which is its second such tool. And, in February, it launched its third biotechnology and healthcare investment fund, which ended with a capital commitment of US$750 million.
A lot of funds will be raised within a year. Again, its limited partners have reason to be optimistic about its portfolio. For example, in January, the financial technology company Plaid joined the C round a16z round of financing at the end of 2018.
After raising a total of about US$310 million in funds, it was acquired by Visa for a high price of US$5.3 billion.
The Justice Department recently filed a lawsuit on antitrust grounds, but even if it was dissolved, industry observers liked Plaid’s prospects.
The company is also an investor in the upcoming accommodation market Airbnb, although according to Airbnb’s S-1, although it is worth noting that a16z does not have enough shares in the document to list, even though a16z leads the company.
In the company’s Series B financing in 2011, although the general partner Jeff Jordan was still a member of the company’s board of directors, it was necessary to list all ownership positions.
Another a16z portfolio company, Affirm, a pay-as-you-go lending company, has also applied for a public listing. Andreessen Horowitz participated in the company’s Series B financing for the first time in 2015.
The company is also not listed in Affirm’s S-1 file, which means the company owns less than 5% of the shares.
The company is an investor in-game company Roblox, which led a $150 million Series Ground earlier this year. Roblox revealed S-1 earlier this week. A16z is not listed above.
In the early stages, the company is usually characterized by its gorgeous deals, including its voice chat app club Clubhouse, which is valued at $100 million, and Y Combinator graduate Trove, which is valued at $75 million.