Andreessen Horowitz has raised more than $15 billion — its biggest ever funding haul — with plans to invest in industries including artificial intelligence, defense and biotech.
The fresh capital, more than double what it raised in 2024, brings the firm’s assets under management to more than $90 billion, it said Friday. The new funds will sit across several investment vehicles, with nearly half going to its growth fund, which invests in more mature startups, including companies like defense technology company Anduril Industries Inc., coding assistant startup Cursor and software maker Databricks Inc.
A significant amount of cash will go to artificial intelligence startups: Andreessen Horowitz’s application and infrastructure funds, which both invest in AI companies, were each boosted to $1.7 billion — compared with the $1-billion and $1.25-billion totals, respectively, in the prior fundraising haul.
In recent years, Andreessen Horowitz has risen in prominence on the national stage, becoming increasingly vocal about policy issues.
The firm joined other major Silicon Valley investors in backing a $100-million political network meant to influence AI regulation in the U.S. And co-founder Marc Andreessen has been a high-profile supporter of President Trump.
In a blog post announcing the new funding, co-founder and general partner Ben Horowitz wrote that the firm’s goal is “ensuring that America wins the next 100 years of technology.”
The American Dynamism fund, which focuses on defense and other technology that serves the national interest, nearly doubled in size to about $1.2 billion with the latest cash infusion.
Meanwhile, Andreessen Horowitz raised $700 million for its fourth bio and healthcare fund, compared with $1.5 billion in 2022.
Last year, the firm announced a separate biotech fund that could deploy up to $500 million in the sector. Months later, Vijay Pande, a general partner at the firm who founded the biology and health practice, stepped down from his role.
The firm also did not specify a specific capital raise for a gaming fund, unlike in prior years.
In the announcement, Andreessen Horowitz said that it has raised $3 billion for other venture strategies. The firm’s crypto arm raises its own funds separately, a spokesperson said.
In the blog post announcing the funds, Horowitz said the “fate of new technology in the United States rests partly on our shoulders,” and starts with winning in artificial intelligence and crypto.
Horowitz also noted that the technology landscape in the U.S. is “intensely competitive with China” and emphasized that the benefits of the firm’s activity will go to America and its allies.
Mascarenhas writes for Bloomberg.
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