Andreessen Horowitz has raised a total of $2.75 billion for its sixth venture fund and its first dedicated late stage fund. In a blog post, the firm announced that it plans to build out its late-stage investment team in the coming months. Andreessen noted that late-stage investing was not “a new area of investment” for the firm but having a “dedicated fund and a dedicated team” was.
The firm recently hired a new general partner, David George of General Atlantic, to oversee late-stage deals. Of the two funds, the venture fund raised $750 million and the late-stage fund raised $2 billion. Late-stage investments typically require more money than early-stage deals. Andreessen has raised a total of $10 billion to date.