A16z raises $7.2B
The firm raised the funds for the American Dynamism, Apps, Games, Infrastructure and Growth ventures, a post said
A16z co-founder Ben Horowitz | Steve Jennings/Getty Images for TechCrunch/"775208326GB00183_TechCrunch" (CC license)
Andreessen Horowitz raised $7.2 billion, co-founder Ben Horowitz disclosed in a new blog post on Tuesday.
The funds were raised for five of their “venture strategies” including American Dynamism, Games, Apps, Infrastructure and Growth. The largest raise was for growth, coming in at $3.75 billion. Games and American Dynamism each raised $600 million.
While it’s not clear how the freshly raised funds will be used, the firm’s Games venture has previously expressed interest in Web3 gaming.
Read more: A16z’s crypto ideas list for 2024 spotlights AI, gaming
“Games are also driving innovation across the entire consumer ecosystem, pioneering best-in-class mechanisms for user engagement, retention, and monetization, such as microtransactions, battle passes and Web3 tokens,” the venture’s page said.
Crypto was not among the initial raises, though Bloomberg reported that the firm is “still on track to raise additional funds” next year, citing people familiar.
“This marks an important milestone for us,” Horowitz said in a blog post.
Last fall, Axios reported that the venture capital firm was eyeing $3.4 billion for some of its funds.
The report from last October backs up Bloomberg’s reporting from earlier today, stating that the new investing vehicles could come in 2025.
A16z, in late March, announced that it picked 25 start-ups for its spring 2024 crypto startup accelerator.
The firms received a $500,000 investment in exchange for a16z receiving 7% equity.
Outside of its accelerator, the VC firm has been actively investing and leading rounds in the crypto world. It led a Series B funding round for Espresso Systems.
“At its core, crypto is a technology movement that builds tools for better human cooperation at a larger scale — especially when the cooperating parties mutually distrust one another,” Ali Yahya, general partner at Andreessen Horowitz, said in a post at the time.
In February, a16z announced that it was investing $100 million in Series B funding for EigenLayer.
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