Andreessen Horowitz( a16z) has closed a duo of funds totaling $4.5 billion, the conglomerate confirmed in a blog post this morning. The house has raised $1.3 billion for an early-stage fund focused on consumer, enterprise and fintech; and closed a $3.2 billion growth-stage fund for later-stage assets. The firm did not immediately respond to request for comment.
The funds may seem somewhat conventional, given the size of brand-new funds that dare houses ought to have promoting in recent years. Still, such is amazing sums considering the fact that a16z, with bureaux in Menlo Park and San Francisco, was founded merely 11 years ago.
Just as remarkable, they drawing the firm’s total assets under management to $16.5 billion.
It was just 20 a few months ago that a16z closed its most recent pair of monies — a$ 2 billion late-stage fund, and a $740 million flagship early-stage fund.
It likewise announced a separate, $515 million crypto-focused fund back in April of this year, its second such vehicle. And, in February, it reeled out its third biotech and healthcare investing fund, which closed with $750 millionin fund commitments.
That’s a lot of fund to capture in one year. Then again, its restraint marriages have had reason to feel idealistic about its portfolio. In January, for example, the fintech firm Plaid, whose Series C round a16z is engaged in late 2018, was acquired by Visa for a hefty $5.3 billion after invoking approximately $310 million altogether.
The Justice Department recently sued to block the deal on antitrust dirts, but even if it’s unwound, industry beholders like Plaid’s prospects.
The firm is also an investor in the soon-to-be-publicly traded housings mart Airbnb, though notably, according to Airbnb’s S-1, a16z does not own enough of the company to be listed on the filing, despite that it led the company’s Series B round in 2011 and despite that general marriage Jeff Jordan sits on the company’s timber and would need to list any owned position as a result.
We’ve asked if it sold area or all of its stake, possibly earlier this year,and are awaiting message back.
Another of a16z’ s portfolio business, the pay-as-you-go lending busines Affirm, has also filed to go public. Andreessen Horowitz first participated in the company’s Series B round back in 2015. It is also not listed on Affirm’s S-1 filing, meaning it owns less than 5% of the company.
And the firm is an investor in the game company Roblox, whose $150 million Streaks G round it led earlier this year. Roblox constructed its S-1 public earlier this week; a16z is not listed on it.
On the early-stage side, the conglomerate is often characterized by its flashy deals, including its $ 100 million valuation of voice-chat app Clubhouseand $75 million valuation of Y Combinator postgraduate Trove .
A1 6z also recently propelled a TxO accelerator, which employs a donor-advised fund to invest in underrepresented benefactors. Led by a16z partner Nait Jones, TxO has invested $ 100,000 each in an initial cohort of seven corporations in exchange for 7% of possession stake.
The donor-advised fund launched with $2.2 million in initial commitments, with Ben and Felicia Horowitz announcing they would match up to$ 5 million. Any returns from companionships in the fund will be repurposed into the investment vehicle. The conglomerate has declined to share the fund’s total size to date.
Currently, a16z hires 185 parties, most recently hiring Anthony Albanese, the prime regulatory polouse at the N. y. stock exchange, as an operating collaborator for its cryptocurrency team.
One of a16z’ s biggest acquires so far appears to be GitHub, which sold to Microsoft in a $7.5 billion all-stock handled in 2018 and from which a1 6z reportedly pocketed more than$ 1 billion. When it invested in the company, it wrote the biggest check it had issued at the time: $100 million. The calls were enough for a16z to win the spate against some tough tournament, including Benchmark, which was also trying to woo GitHub at the time, as general partner, Peter Fenton, said recently.
It is also an early investor in the cryptocurrency exchange Coinbase, which was last valued by its private investors at$ 8 billion and is reportedly contemplating an IPO, maybe early next year. And a16z owns a stake in Robinhood, the popular trading app that in September was valued at $ 11.7 billion.
Robinhood, very, is said to be contemplating an IPO in the near future.
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