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Andreessen Fund Raises $650 MillionPOSTED November 4, 2010 MENLO PARK -- Venture capital firm Andreessen Horowitz announced that it has completed fundraising for a second fund of $650 million. The fund's purpose is to invest in technology startups at seed, venture and growth stages, with investments ranging from $50,000 to $50 million. The firm has raised nearly $1 billion over the past 16 months, having launched the firm in June 2009 with an initial fund of $300 million. Firm partner Marc Andreessen is a legend in Silicon Valley who helped develop the Netscape Internet browser. "Our mission is to invest in the best entrepreneurs building the most important companies," said General Partner Ben Horowitz. "As a matter of core philosophy, we invest in companies, not stages -- we're stage agnostic. This fund will help us continue to support great entrepreneurs in whatever phase they're in as they build quality companies going after the biggest markets." The firm's portfolio includes 28 investments, including Kno, Nicira, Proferi, Rockmelt, and Zynga. Andreessen Horowitz also led Foursquare's series B round and was among the group of investors to buy part of Skype. The firm focuses on investing in a range of startups in the technology sector, including cloud computing, Web, mobile, and consumer electronics companies. In addition to the firm's unique multi-stage investment philosophy, one of its founding principles is to have general partners who are skilled in helping companies at all three stages of development -- seed, venture, and growth. General partners Andreessen, Ben Horowitz, and John O'Farrell have the entrepreneurial and operational expertise to guide founders through their lifecycles, from establishing their companies to running them at scale. The partners draw from their impressive track records with companies such as Netscape, Loudcloud/Opsware, and Silver Spring Networks. "We're extremely pleased with what we've accomplished in a little over a year," said Andreessen. "We've had access to more than 1,000 deals and are working with high-caliber entrepreneurs who are determined to build game-changing companies." © Copyright SVDaily.com |
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