US-based venture capital firm Andreessen Horowitz to raise new $1.5B fund -Primack
Andreessen Horowitz is presently raising a massive amount for its new fund, Fortune's LP whisperer Dan Primack reported. The latest fund is expected to have a total of $1.5 billion. This amount gives the firm enough capital to pursue more funding deals, wrote TechCrunch.
CrunchBase said Andreessen Horowitz had secured $2.65 billion previously. This means that the new fund would either be of the same size of more than half of the previous fund. Primack said the new fund will have a similar structure to the one before that. Therefore, it is expected that the latest fund will have allotments for both early stage investment and large ones also, the report explained.
Andreessen Horowitz is presently regarded as some of the smartest finances in the market, the report added.
The group became popular when it poured in a massive and lucrative investment into Skype, which Microsoft later acquired for over $8 billion. Last year, the venture capital firm announced that it will start focusing more on larger scale investments from the previous Series A level, the report said.
Andreessen Horowitz has yet to comment on this news, TechCrunch reported.