Andreessen Horowitz

Reviewed Updated Mar 13, 2026

This profile is AI-generated. If you spot an error, please help us fix it by sharing a URL to the correct information.

Location Menlo Park, CA
Founded 2009
Fund Size $7.2B (2024 across five funds); $15B (2026 across five funds); $90B+ total AUM
Website https://a16z.com
Stage Focus
seed series-a series-b growth
Sector Focus
ai enterprise consumer crypto fintech bio-health games infrastructure american-dynamism

Team

Marc Andreessen Co-Founder & General Partner
Ben Horowitz Co-Founder & General Partner
Chris Dixon General Partner (Crypto)
Jeff Jordan General Partner
Martin Casado General Partner
Andrew Chen General Partner
Connie Chan General Partner (Consumer)
David George General Partner (Growth)
Julie Yoo General Partner (Bio + Health)
Alex Rampell General Partner (Fintech)
Angela Strange General Partner (Fintech)
Anish Acharya General Partner
Raghu Raghuram General Partner
Erik Torenberg General Partner
Katherine Boyle General Partner
Vijay Pande Former General Partner (Bio + Health); now Co-Founder & Managing Partner, VZVC
Sriram Krishnan Former General Partner (now Senior White House Policy Advisor for AI)
Scott Kupor Managing Partner (on leave; serving as OPM Director)
John O'Farrell Advisory Partner (formerly General Partner)
David Ulevitch General Partner
Jorge Conde General Partner
Scott Weiss General Partner (2011–2016); currently board-only

About

Andreessen Horowitz (commonly known as a16z) is an American venture capital firm founded on July 6, 2009, by Marc Andreessen and Ben Horowitz, headquartered in Menlo Park, California 12. Andreessen co-created Mosaic, the first widely used web browser, and co-founded Netscape; Horowitz served as CEO of Opsware (formerly Loudcloud), which sold to HP for $1.6 billion in 2007 1. Between 2006 and 2010, the pair personally invested $4 million in 45 startups, including Twitter, before formalizing their partnership 1.

The firm launched with an initial fund of $300 million in 2009 13. It raised a second fund of $650 million in November 2010, bringing total assets to $1.2 billion within two years 13. By March 2014, the firm managed $4 billion following the close of its fourth fund at $1.5 billion 1. In January 2022, a16z raised $9 billion across venture, growth, and biotech funds 1. In April 2024, the firm raised $7.2 billion across five funds: American Dynamism ($600M), Apps ($1B), Games ($600M), Infrastructure ($1.25B), and Growth ($3.75B) 45. In January 2026, a16z raised $15 billion across five new funds: American Dynamism ($1.176B), Apps ($1.7B), Bio + Health ($700M), Infrastructure ($1.7B), and Growth ($6.75B) 67. As of July 2025, a16z ranks first among venture capital firms by assets under management, with $46 billion 1. The firm reports managing over $90 billion across all funds 2.

In April 2019, a16z registered as a Registered Investment Adviser (RIA) with the SEC, formally ceasing to operate as a traditional venture capital firm 8. This allowed the firm to invest more than 20% of fund capital in liquid securities, particularly cryptocurrencies 8.

a16z pioneered the “platform model” in venture capital, assembling what it describes as the largest team of operators in venture, offering support in marketing, talent acquisition, legal, and policy 2. The firm has over 150 people dedicated to supporting portfolio companies 9. As of 2026, a16z has invested in over 1,076 portfolio companies with a combined valuation exceeding $600 billion, including 121 unicorns and 35+ public offerings 10.

The firm maintains offices in Menlo Park (headquarters at Sand Hill Road), San Francisco, New York, and London 1112.

Stated Thesis

Andreessen Horowitz was built on the conviction that “software would eat the world, and the biggest tech companies would become far more valuable than anyone believed” 2. Marc Andreessen articulated this thesis in his landmark 2011 Wall Street Journal essay, arguing that “in many industries, new software ideas will result in the rise of new Silicon Valley-style start-ups that invade existing industries with impunity” 13.

The firm publicly states it invests “in seed to venture to growth-stage technology companies, across AI, bio + healthcare, consumer, crypto, enterprise, fintech, games, infrastructure, and companies building toward American dynamism” 2.

a16z articulates seven core cultural principles on its website 2:

  1. “We do only first class business and only in a first class way” — emphasizing respect for entrepreneurs and timely communication.
  2. Long-term relationships — “Our word is our bond.”
  3. Future belief — Betting strategically on technological progress.
  4. Diversity through merit — “We don’t have quotas… we have a goal to be the most talented firm.”
  5. Celebration — Recognizing individual and collective achievements.
  6. Competitive excellence — “We play to win” by investing in the best companies rather than seeking bargains.
  7. Team focus — “Every time we win, we win as a team.”

The firm states it will “never publicly criticize any entrepreneur or startup,” calling this a “fireable offense” 2. Ben Horowitz has stated that a16z prioritizes company success over founder retention, and that “a great investor with the right help, the right networking, and the right expertise at the right time can be the difference between success and failure” 5.

Marc Andreessen has described the firm’s founder evaluation: “The decision should be around people… about 90% of the decision is people” 14. He also states: “We are looking for a magic combination of courage and genius… Courage is the one people can learn” 14.

In January 2026, Ben Horowitz framed the firm’s $15 billion raise around ensuring American technological leadership, arguing it is “fundamentally important for humanity that America wins” the technology competition and identifying AI and crypto as “key architectures” for the next era 6.

Inferred Thesis

The following analysis is based on publicly verified portfolio data and a16z’s own investment list. According to Tracxn, a16z has made 1,157 investments over 17 years 15. The firm’s portfolio page lists 1,076+ companies 10. GrowthList categorizes the portfolio as follows 10:

Sector Allocation (based on GrowthList categorization of 1,076+ portfolio companies)

  • AI / Machine Learning: 440+ companies (approximately 40%) 10
  • B2B SaaS / Enterprise Software: 300+ companies (approximately 28%) 10
  • Healthcare & Biotech: 200+ companies (approximately 19%) 10
  • Consumer & Entertainment: 200+ companies (approximately 19%) 10
  • Fintech / Financial Services: 150+ companies (approximately 14%) 10
  • American Dynamism (defense, aerospace, manufacturing): 50+ companies (approximately 5%) 10

Note: Categories overlap as many companies span multiple sectors (e.g., an AI healthcare company counts in both AI and healthcare). Percentages do not sum to 100% due to this overlap.

Stage Distribution (from Tracxn data on 1,157 investments)

  • Seed: 469 investments (41%) with average round size of $17.6M 15
  • Series A: 368 investments (32%) with average round size of $24.1M 15
  • Series B: 131 investments (11%) with average round size of $118M 15
  • Later stages: the remainder (~16%)

Despite investing across all stages, a16z’s largest fund allocation is consistently to growth — the 2024 Growth fund was $3.75 billion (52% of the $7.2B raise) 4, and the 2026 Growth fund was $6.75 billion (45% of the $15B raise) 6. This indicates a firm that increasingly deploys the majority of its capital at later stages while maintaining seed and Series A presence for deal flow and early access.

Geographic Concentration

The portfolio is 78% US-based, 2% UK-based, and 20% distributed globally 10. The firm’s headquarters are in Menlo Park with offices in San Francisco, New York, and London 1112.

Check Size

Based on available data 10: - Speedrun Accelerator: $750K–$1M - Seed: $1M–$5M - Series A: average $24.1M 15 - Series B: average $118M 15 - Growth / Late Stage: $50M–$500M+ - Special situations: $1B+ (e.g., OpenAI, xAI) 10

Co-Investor Patterns

Based on the 20 startup profiles in this database, a16z is the most frequently appearing co-investor across our profiled companies, appearing alongside investments from SV Angel, Sequoia Capital, Kleiner Perkins, Founders Fund, and other top-tier firms. a16z frequently co-invests with Sequoia at growth stages (both appear in Airbnb, Stripe, Databricks, OpenAI) and with SV Angel at seed stages.

Notable Gaps Between Stated and Actual Thesis

  • AI concentration has accelerated dramatically. While a16z lists nine equal focus areas on its website, approximately 40% of portfolio companies involve AI/ML, making it the firm’s dominant sector by far. The 2025 funding mix for AI-focused investments was reportedly 40% healthcare, 25% infrastructure, 20% vertical copilots, 15% entertainment/logistics 10.
  • Crypto commitment despite losses. The flagship Crypto Fund I lost approximately 40% in the first half of 2022 16, yet the firm continued raising large crypto-dedicated funds ($4.5B Crypto Fund 4 in 2022 17, seeking $2B for Crypto Fund 5 in 2026 18). This represents genuine conviction rather than performance-chasing.
  • “American Dynamism” is a differentiator. The dedicated defense/aerospace/manufacturing fund ($600M in 2024, $1.176B in 2026) distinguishes a16z from peers who avoid these sectors. Portfolio companies like Anduril, Shield AI, Hadrian, and Flock Safety represent meaningful deployment in hardware-intensive, government-adjacent businesses 46.
  • Growth dominance vs. seed origins. While the firm is famous for early investments (Instagram, Airbnb, Coinbase), the majority of capital is now deployed at growth stage. The 2026 Growth fund alone ($6.75B) exceeds the entire firm’s AUM from its first five years.
  • The platform model is the thesis. Unlike firms that compete purely on brand or check size, a16z’s 150+ person operating team is a structural differentiator 9. This “we are a machine you can quickly plug into” approach (Ben Horowitz’s framing) means the firm competes on services, not just capital.

Portfolio

The following table includes a16z investments verified through the firm’s own portfolio page, Crunchbase, press coverage, and our existing startup profiles. a16z has 1,076+ portfolio companies 10; this table represents approximately 9% of the full portfolio, focused on the most notable investments.

Company Stage Year Sector Status
Facebook (Meta) Growth 2010 Consumer / Social Public (IPO 2012) 110
Instagram Early 2010 Consumer / Social Acquired by Facebook (2012) 10
Skype Growth 2011 Communications Acquired by Microsoft (2011) 1
Airbnb Series B 2011 Marketplace Public (IPO 2020) 1019
GitHub Series A 2012 Developer Tools Acquired by Microsoft (2018) 10
Pinterest Growth 2012 Consumer / Social Public (IPO 2019) 10
Okta Series A (led, $10M) 2010-07-13 Enterprise SaaS / Identity Public (IPO 2017) 105051
Lyft Series C 2013 Marketplace / Transportation Public (IPO 2019) 10
Coinbase Series B (led, $25M) 2013-12-12 Crypto / Fintech Public (IPO 2021) 102048
Slack Series A 2014 Enterprise SaaS Acquired by Salesforce (2021, $27.7B) 10
Stripe Growth 2014 Fintech / Payments Private 10
Databricks Series A 2013 Enterprise / Data & AI Private 10
Instacart Growth 2014 Marketplace / Delivery Public (IPO 2023) 10
Figma Series D (led) 2020 Developer Tools / Design Public (IPO 2025) 1033
Affirm Growth 2016 Fintech / Lending Public (IPO 2021) 10
Asana Growth 2016 Enterprise SaaS Public (IPO 2020) 10
DoorDash Growth 2018 Marketplace / Delivery Public (IPO 2020) 10
Roblox Growth 2020 Games / Consumer Public (IPO 2021) 10
Snapchat (Snap) Growth 2016 Consumer / Social Public (IPO 2017) 10
Box Series A 2011 Enterprise SaaS Public (IPO 2015) 10
Apptio Growth 2014 Enterprise SaaS Public (acquired by IBM 2023) 10
Navan (TripActions) Growth 2019 Enterprise SaaS / Travel Public (IPO 2025) 10
Duolingo Growth 2020 EdTech / Consumer Public 10
OpenAI Growth 2023 AI Private 10
Anthropic Growth 2023 AI Private 10
Anduril Growth (Series B→H; co-led Series H) 2019 (Series B); 2026-05-13 (Series H, co-led at $61B) Defense Tech Private 1047
Applied Intuition Growth 2021 Autonomous / Simulation Private 10
Rippling Growth 2022 HR / Enterprise Private 10
Deel Growth 2022 HR / Payroll Private 10
Brex Growth 2022 Fintech Private 10
Notion Growth 2020 Enterprise SaaS Private 10
Faire Growth 2022 Marketplace Private 10
Harvey Series F (led) 2025-12-04 AI / Legal Private 103435
Cursor Series D (participated) 2025-11-13 AI / Developer Tools Private 1044
ElevenLabs Series B (co-led) 2024-01-22 AI / Voice Private 1036
Safe Superintelligence (SSI) Series A 2024-09-04 AI Private 1038
Substack Series C (participated) 2025-07-17 Creator Economy Private 1045
Shield AI Series G (participated) 2026-03-26 Defense / Drones Private 1037
Hadrian Growth 2023 Manufacturing Private 10
Flock Safety Growth 2022 Public Safety Private 10
Abridge Series B 2023 AI / Health Private 10
Hippocratic AI Series A 2023 AI / Health Private 10
Groq Growth 2024 AI / Chips Private 10
Helion Energy Growth 2021 Climate / Energy Private 10
Carbon Robotics Growth 2022 Agriculture Tech Private 10
Vanta Growth 2025 Security / Compliance Private 10
Anchorage Digital Series D 2021 Crypto / Custody Private 10
Dapper Labs Growth 2021 Crypto / NFT Private 10
Astranis Growth 2021 Aerospace / Satellite Private 10
Astranis Series E (participated, follow-on) 2026-05-06 Aerospace / Satellite Private 40
Zynga Growth 2010 Games Acquired by Take-Two (2022) 110
Foursquare Growth 2010 Consumer / Location Private 1
Oculus VR Series B 2013 Consumer Tech / VR Acquired by Facebook (2014) 10
Segment Series A 2014 Enterprise / Data Acquired by Twilio (2020) 10
Actifio Growth 2017 Enterprise / Storage Acquired by Google (2020) 10
Apeel Sciences Series C 2020 AgTech Private 10
Ambient.ai Series A 2020 AI / Security Private 10
Asimov Series A 2020 Biotech / Synthetic Bio Private 10
Alchemy Series B 2022 Crypto / Infrastructure Private 10
Aleo Series B 2022 Crypto / Privacy Private 10
Anyscale Series B 2021 AI / Infrastructure Private 10
AirGarage Series A 2022 Real Estate / Parking Private 10
Aerodome Series A (participated) 2024-05-22 Defense / Drones Private 1046
Air Space Intelligence Growth 2024 Defense / AI Private 10
11x Series A 2024 AI / Sales Private 10
Lio Series A (led) 2026-03-05 AI / Enterprise / Procurement Private 2243
Smart Bricks Pre-Seed 2026 Proptech / AI Private 23
Nexthop AI Series B 2026 AI / Networking / Infrastructure Private 24
Glimpse Series A 2026 Fintech / Retail Tech Private 25
Spade Series B 2026 Fintech / Data Infrastructure Private 26
Airbase (Spectrum) Seed 2026 Defense Tech / RF Spectrum Private 27
Pillar Seed 2026 Fintech / Risk Management Private 28
GitButler Series A 2026 Developer Tools / Version Control Private 29
Mintlify Series B 2026 Developer Tools / Documentation Private 30
Ulysses Series A 2026 Autonomous / Ocean Tech Private 31
Segura Seed 2026-04-27 Insurtech / LatAm Private 32
Ethos Series A (led) 2026-05-06 AI / Expert Network / HR Tech Private 39
Pit Seed (led) 2026-05-07 AI / Enterprise Operations Private 41
Tessera Labs Series A (led) 2026-05-06 AI / ERP / Enterprise Software Private 42
Stitch (Saudi Arabia) Series A (led; a16z’s first GCC investment) 2026-05-14 Fintech / Core Banking Infrastructure Private 49
Stilta Seed (led, $10.5M) 2026-05-19 AI / Legal Tech / IP Private 52
Mercury Series D (participated, $200M at $5.2B val; TCV led) 2026-05-20 Fintech / Digital Banking Private 53
Exa Labs Series C (led, $250M at $2.2B val) 2026-05-20 AI / Search Infrastructure Private 54
Socket Series C (participated, $60M at $1B val; Thrive Capital led) 2026-05-20 Cybersecurity / Software Supply Chain Private 55
Amca Series B (participant, $300M at $1B+ val; Caffeinated Capital led) 2026-05-20 Aerospace & Defense / Manufacturing Private 56
Arc QSR Seed (led, $10.8M) 2026-05-26 AI / Robotics Private 57
OpenRouter Series B (participant, $113M at $1.3B val; CapitalG led) 2026-05-26 AI / LLM Infrastructure Private 57
Town Series A (led, $55M; co-led with Forerunner) 2026-06-03 Consumer AI / Personal Assistant Private 58

Note: This table includes 75 companies out of 1,076+ total portfolio companies (~7%). Investment years are approximate where exact dates are not publicly confirmed. Many investments span multiple rounds; the stage listed reflects a16z’s initial or most significant investment.

In Their Own Words

Marc Andreessen on technology and investing:

“Most of the big breakthrough technologies/companies seem crazy at first: PCs, the internet, Bitcoin, Airbnb, Uber, 140 characters.” 14

“The decision should be around people… about 90% of the decision is people.” 14

“We are looking for a magic combination of courage and genius… Courage is the one people can learn.” 14

“About 15 of those will generate 95% of all the economic returns… even the top VCs write off half their deals.” 14

“We invest in these companies with a ten-year outlook.” 14

Marc Andreessen on “Software Eating the World” (Wall Street Journal, 2011):

“In many industries, new software ideas will result in the rise of new Silicon Valley-style start-ups that invade existing industries with impunity.” 13

Ben Horowitz on founding a16z:

“A great investor with the right help, the right networking, and the right expertise at the right time can be the difference between success and failure.” 5

Ben Horowitz on American technological leadership (January 2026):

“Give them a shot at a great life regardless of their circumstance, background, ethnicity, religion, gender or any other attribute.” 6

Ben Horowitz on the $15B raise:

a16z bears responsibility as “the American leader in Venture Capital” to ensure America wins “the next 100 years of technology.” 6

Ben Horowitz on specialized funds:

“Founders building AI foundation models need an entirely different set of networks and capabilities than founders building biotech therapies.” 5

a16z on entrepreneur relations:

“We never publicly criticize any entrepreneur or startup (doing so is a fireable offense).” 2

a16z on investment strategy:

“Our strategy is to invest in the best companies, not get the best bargains.” 2

What Founders Say

Ali Ghodsi, CEO of Databricks:

“I don’t think Databricks would be around today if it wasn’t for a16z. And Ben specifically.” (Source: Not Boring by Packy McCormick) 3

“They truly believed in us.” 3

“They envision the full potential of the thing. When you’re knee deep in it… it’s hard to think about the world that way. But then they come to the board meetings and they tell you, ‘You’re going to take over the world.’” 3

“First and foremost, they just really care about the mission of the company. I don’t think Ben and Marc think of it as an investment return first. That comes second.” 3

Brian Chesky, Co-Founder and CEO of Airbnb:

“From the first time we met, Jeff struck me as somebody I should learn from.” (On Jeff Jordan joining Airbnb’s board; Source: Fortune) 21

Ben Silbermann, Co-Founder and CEO of Pinterest:

“[Jordan] saw similarities between Pinterest and the early days of eBay, which had aspects of commerce as well as aspects of community.” (On Jeff Jordan’s investment thesis; Source: Fortune) 21

Jeff Jordan (a16z General Partner) on first hearing Brian Chesky pitch:

“I went from complete cynic to complete believer in 30 minutes.” (Source: Fortune) 21

Note: The Ghodsi quotes are from an independently reported profile (Not Boring by Packy McCormick). The Chesky and Silbermann quotes are from independent Fortune reporting. The Jordan quote is included for context but is an investor quote, not a founder quote. No independently sourced negative or critical founder testimonials were found in this research pass. a16z’s own website does not feature a dedicated testimonials section.

Sources

  1. “Andreessen Horowitz.” Wikipedia. https://en.wikipedia.org/wiki/Andreessen_Horowitz. Accessed March 2026. ↩↩↩↩↩↩↩↩↩↩↩↩

  2. “About.” Andreessen Horowitz. https://a16z.com/about/. Accessed March 2026. ↩↩↩↩↩↩↩↩↩

  3. “a16z: The Power Brokers.” Not Boring by Packy McCormick. https://www.notboring.co/p/a16z-the-power-brokers. Accessed March 2026. ↩↩↩↩↩↩

  4. “Andreessen Horowitz raises $7.2 billion across five funds.” CNBC, April 16, 2024. https://www.cnbc.com/2024/04/16/andreessen-horowitz-raises-7point2-billion-across-five-funds-.html↩↩↩

  5. “New Funds, New Era.” Andreessen Horowitz, April 2024. https://a16z.com/new-funds-new-era/↩↩↩↩

  6. “Why Are We Here? Why Did We Raise $15B?” Andreessen Horowitz, January 2026. https://a16z.com/why-did-we-raise-15b/↩↩↩↩↩↩

  7. “Andreessen Horowitz Raises More Than $15 Billion in New Funds.” Cooley, January 9, 2026. https://www.cooley.com/news/coverage/2026/2026-01-09-andreessen-horowitz-raises-more-than-$15-billion-in-new-funds↩

  8. “Andreessen Horowitz says it will no longer be a venture capital firm.” CNBC, April 2, 2019. https://www.cnbc.com/2019/04/02/andreessen-horowitz-says-it-will-no-longer-be-a-venture-capital-firm.html↩↩

  9. “Andreessen Horowitz’s Approach to Supporting Portfolio Companies.” Press.farm. https://press.farm/andreessen-horowitz-supports-portfolio-companies/. Accessed March 2026. ↩↩

  10. “1,076+ Andreessen Horowitz Portfolio Companies 2026 | a16z Database.” GrowthList. https://growthlist.co/andreessen-horowitz-portfolio/. Accessed March 2026. ↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩↩

  11. “Offices.” Andreessen Horowitz. https://a16z.com/offices/. Accessed March 2026. ↩↩

  12. “Andreessen Horowitz Expands Headquarters in West Coast Venture Capital Hub.” CoStar, 2024. https://www.costar.com/article/1781536877/andreessen-horowitz-expands-headquarters-in-west-coast-venture-capital-hub↩↩

  13. “Why Software Is Eating the World.” Andreessen Horowitz (originally published in Wall Street Journal, August 20, 2011). https://a16z.com/why-software-is-eating-the-world/↩↩

  14. “12 Things I Learned From Marc Andreessen.” Andreessen Horowitz. https://a16z.com/12-things-i-learned-from-marc-andreessen/. Accessed March 2026. ↩↩↩↩↩↩↩

  15. “Andreessen Horowitz — 2026 Investor Profile, Portfolio, Team & Investment Trends.” Tracxn. https://tracxn.com/d/venture-capital/andreessenhorowitz/__oEAKrCATGdFfCsrPN-DhXby6dmugBcIAllHOAiIiWII. Accessed March 2026. ↩↩↩↩↩↩

  16. “Flagship Andreessen Horowitz Crypto Fund Lost 40% in First Half of 2022.” Blockworks, 2022. https://blockworks.co/news/flagship-a16z-crypto-fund-lost-40-in-first-half-of-2022-wsj↩

  17. “Andreessen Horowitz Launches Largest Crypto Fund Ever With $4.5B.” Blockworks, 2022. https://blockworks.co/news/andreessen-horowitz-launches-largest-crypto-fund-ever↩

  18. “A16z looks to raise $2 billion for its fifth crypto fund.” The Block, March 2026. https://www.theblock.co/post/392322/a16z-looks-to-raise-2-billion-for-its-fifth-crypto-fund-fortune↩

  19. “Airbnb Bags $112 Million In Series B From Andreessen, DST And General Catalyst.” TechCrunch, July 24, 2011. https://techcrunch.com/2011/07/24/airbnb-bags-112-million-in-series-b-from-andreessen-and-others/↩

  20. “Coinbase Raises $25M Led By Andreessen Horowitz To Build Its Bitcoin Wallet And Merchant Services.” TechCrunch, December 12, 2013. https://techcrunch.com/2013/12/12/coinbase-raises-25m-from-andreessen-horowitz-to-build-its-bitcoin-wallet-and-merchant-services/↩

  21. “Lessons From the VC Who’s Seen It All Before.” Fortune. https://fortune.com/longform/jeff-jordan-vc/. Accessed March 2026. ↩↩↩

  22. “Lio raises $30M from Andreessen Horowitz and others to automate enterprise procurement.” TechCrunch, March 5, 2026. https://techcrunch.com/2026/03/05/lio-ai-series-a-a16z-30m-raise-automate-enterprise-procurement/↩

  23. “Smart Bricks Raises $5M Led by Andreessen Horowitz (a16z) to Build the AI Infrastructure Layer for Global Real Estate.” PR Newswire, February 11, 2026. https://www.prnewswire.com/news-releases/smart-bricks-raises-5m-led-by-andreessen-horowitz-a16z-to-build-the-ai-infrastructure-layer-for-global-real-estate-302684737.html↩

  24. “Nexthop AI Accelerates Into Hypergrowth With Oversubscribed $500M Series B Funding.” BusinessWire, March 10, 2026. https://www.businesswire.com/news/home/20260310574112/en/Nexthop-AI-Accelerates-Into-Hypergrowth-With-Oversubscribed-$500M-Series-B-Funding-Catapulting-the-Companys-Valuation-to-$4.2-Billion↩

  25. “After pivoting, Y Combinator grad Glimpse raises $35M led by a16z.” TechCrunch, March 25, 2026. https://techcrunch.com/2026/03/25/a16z-backed-glimpse-raises-new-funds-accelerates-dispute-tracking-automation-for-cpg-brands/↩

  26. “Spade Announces $40m Series B Raise to Build The Data and AI Platform for Modern Finance.” BusinessWire, March 24, 2026. https://www.businesswire.com/news/home/20260324472369/en/Spade-Announces-$40m-Series-B-Raise-to-Build-The-Data-and-AI-Platform-for-Modern-Finance↩

  27. “Airbase Emerges From Stealth With $5M to Automate Spectrum Allocation.” Payload Space, March 25, 2026. https://payloadspace.com/airbase-emerges-from-stealth-with-5m-to-automate-spectrum-allocation/↩

  28. “Financial risk management platform Pillar raises $20M seed in round led by a16z.” TechCrunch, April 14, 2026. https://techcrunch.com/2026/04/14/financial-risk-management-platform-pillar-raises-20m-seed-in-round-led-by-a16z/↩

  29. “We’ve raised $17M to build what comes after Git.” GitButler Blog, April 8, 2026. https://blog.gitbutler.com/series-a↩

  30. Mintlify Blog, “Series B,” April 14, 2026. https://www.mintlify.com/blog/series-b↩

  31. The Irish Times, “Irish-founded Ulysses raises $38m in Series A funding,” April 16, 2026. https://www.irishtimes.com/business/2026/04/16/irish-founded-ulysses-raises-38m-in-series-a-funding/↩

  32. Tech Funding News, “a16z co-leads Segura’s $8M round to use WhatsApp for insurance distribution,” April 27, 2026. https://techfundingnews.com/andreessen-horowitz-co-leads-seguras-8m-round-to-use-whatsapp-for-insurance-distribution/↩

  33. TechCrunch, “Figma raises $50 million Series D led by Andreessen Horowitz,” April 30, 2020. https://techcrunch.com/2020/04/30/figma-raises-50-million-series-d-led-by-andreessen-horowitz/ — a16z’s first Figma investment was the April 30, 2020 $50M Series D, led by Peter Levine. ↩

  34. Harvey blog, “Andreessen Horowitz Leads $160M Investment in Harvey,” December 4, 2025. https://www.harvey.ai/blog/andreessen-horowitz-leads-dollar160m-investment-in-harvey — Confirms a16z’s first Harvey investment was the Series F at an $8B valuation; co-investors included WndrCo, T. Rowe Price, Sequoia, Kleiner Perkins, Conviction, and Elad Gil. ↩

  35. TechCrunch, “Legal AI startup Harvey confirms $8B valuation,” December 4, 2025. https://techcrunch.com/2025/12/04/legal-ai-startup-harvey-confirms-8b-valuation/ — Series F led by a16z at $8B valuation. ↩

  36. a16z, “Investing in ElevenLabs,” June 2023. https://a16z.com/announcement/investing-in-elevenlabs/ — a16z’s first ElevenLabs investment was the June 2023 Series A. The Series B (announced January 22, 2024) was an $80M round at $1.1B valuation co-led by a16z with Nat Friedman and Daniel Gross; Sequoia Capital, Smash Capital, SV Angel, BroadLight Capital, and Credo Ventures participated. Cross-referenced with TechCrunch, “Voice cloning startup ElevenLabs lands $80M, achieves unicorn status,” January 22, 2024. https://techcrunch.com/2024/01/22/voice-cloning-startup-elevenlabs-lands-80m-achieves-unicorn-status/ and Fortune, “ElevenLabs’s $80 million Series B creates AI unicorn, source says,” January 22, 2024. https://fortune.com/2024/01/22/ai-unicorn-andreesen-horowitz-eleven-labs-venture-capital-series-b-tech/↩

  37. Shield AI press release, “Shield AI to acquire software simulation company Aechelon and raise $2B at $12.7B valuation,” March 26, 2026. https://shield.ai/shield-ai-to-acquire-software-simulation-company-aechelon-and-raise-2b-at-12-7b-valuation/ — Shield AI’s $2B Series G (announced March 26, 2026) was co-led by Advent International and JPMorgan Chase ($1.5B equity), with $500M non-dilutive preferred equity from Blackstone. a16z participated alongside Snowpoint Ventures, Innovation X Advisors, Riot Ventures, Disruptive, Apandion, Point72, Palantir, and Lockheed Martin. Round valued Shield AI at $12.7B. Cross-referenced with Bloomberg, “Shield AI Raises $2 Billion, Doubling Valuation to $12.7 Billion,” March 26, 2026. https://www.bloomberg.com/news/articles/2026-03-26/defense-startup-shield-ai-nabs-2-billion-at-12-7-billion-value and BusinessWire, “Shield AI to Acquire Software Simulation Company Aechelon and Raise $2B at $12.7B Valuation,” March 26, 2026. https://www.businesswire.com/news/home/20260326446258/en/Shield-AI-to-Acquire-Software-Simulation-Company-Aechelon-and-Raise-$2B-at-$12.7B-Valuation↩

  38. TechCrunch, “Ilya Sutskever’s startup, Safe Superintelligence, raises $1B,” September 4, 2024. https://techcrunch.com/2024/09/04/ilya-sutskevers-startup-safe-super-intelligence-raises-1b/ — SSI’s $1B Series A (announced September 4, 2024) at a $5B valuation. Investors named: NFDG, a16z, Sequoia, DST Global, and SV Angel. Cross-referenced with SSI updates page, https://ssi.inc/updates, and Crunchbase News, “The 10 Biggest Rounds Of September: Safe Superintelligence’s $1B Raise Reigns Supreme,” https://news.crunchbase.com/venture/biggest-rounds-september-2024-safe-superintelligence-candid-therapeutics/.↩

  39. TechCrunch, “Ethos raises $22.75M from a16z for its expert network with voice onboarding,” May 6, 2026. https://techcrunch.com/2026/05/06/ethos-raises-22-75m-from-a16z-for-its-expert-network-with-voice-onboarding/ — London-based Ethos, an AI-powered expert network founded in 2024 by James Lo (formerly McKinsey, SoftBank) and Daniel Mankowitz (formerly DeepMind), announced a $22.75M Series A on May 6, 2026 led by Andreessen Horowitz with participation from General Catalyst, XTX Markets, Evantic Capital, and Common Magic. Cross-referenced with Tech Funding News, “a16z backs Ethos with $22.75M to replace CVs with an AI talent agent,” May 2026. https://techfundingnews.com/ethos-22-5m-series-a-andreessen-horowitz-general-catalyst-ai-talent/ and Tech.eu, “AI consulting startup co-founded by DeepMind scientist lands $22.75M Series A,” May 6, 2026. https://tech.eu/2026/05/06/ai-consulting-startup-co-founded-by-deepmind-scientist-lands-22-75m-series-a/↩

  40. Via Satellite, “Astranis Raises $300M in Series E and Additional Access to Capital,” May 6, 2026. https://www.satellitetoday.com/finance/2026/05/06/astranis-raises-300m-in-series-e-and-additional-access-to-capital/ — Astranis announced a $300M Series E co-led by Snowpoint Ventures and Franklin Templeton at a $2.8B valuation on May 6, 2026, with participation from Andreessen Horowitz (existing investor, follow-on), BlackRock affiliates, Baillie Gifford, Fidelity Management & Research, BAM Elevate, Nimble Partners, and Friends & Family Capital. A delayed-draw credit facility from Trinity Capital adds up to $155M. Total raised exceeds $1.2B. Cross-referenced with Payload Space, “Astranis Raises $450M+, Including $300M Series E,” May 6, 2026. https://payloadspace.com/astranis-raises-300m-series-e/ (confirms $2.8B valuation, co-leads, and a16z participation). ↩

  41. TheNextWeb, “Pit launches with $16M to build custom AI-native software,” May 7, 2026. https://thenextweb.com/news/pit-16m-launch-andreessen-horowitz-ai-enterprise-operations — Stockholm-based Pit exited stealth on May 7, 2026 with a €13.6M ($16M) seed round led by Andreessen Horowitz with participation from Lakestar and strategic angels from OpenAI, Anthropic, Google, Deel, and Revolut, plus members of the Stena and Lundin families. Co-founder/CEO Adam Jafer was previously a co-founder of Voi; founding team came out of Voi, Klarna, and iZettle. Cross-referenced with EU-Startups, “Stockholm’s Pit exits stealth with €13.6 million a16z-led funding to offer ‘AI product teams as a service,’” May 7, 2026. https://www.eu-startups.com/2026/05/stockholms-pit-exits-stealth-with-e13-6-million-a16z-led-funding-to-offer-ai-product-teams-as-a-service/↩

  42. BusinessWire, “Tessera Labs Raises $60M in Funding Led by Andreessen Horowitz to Transform ERP Modernization,” May 6, 2026. https://www.businesswire.com/news/home/20260506853624/en/Tessera-Labs-Raises-$60M-in-Funding-Led-by-Andreessen-Horowitz-to-Transform-ERP-Modernization — San Jose-based Tessera Labs, an AI-native ERP modernization platform founded in 2025 by CEO Kabir Nagrecha and COO Ming Chang, announced a $60M Series A on May 6, 2026 led by Andreessen Horowitz (partner Seema Amble joined the board) with participation from Foundation Capital, Myriad Venture Partners, and Osage University Partners. Cross-referenced with Tech Funding News, “a16z leads Tessera Labs $60M round to automate SAP and ERP migrations with AI,” May 8, 2026. https://techfundingnews.com/tessera-labs-60m-series-a-a16z-erp-sap-migration-ai/↩

  43. Lio Technologies, “Lio Technologies Raises $30M Series A to Bring Agentic AI to Enterprise Procurement,” March 5, 2026. Accessed May 2026. https://lio.ai/newsroom/lio-technologies-raises-30m-series-a-to-bring-agentic-ai-to-enterprise-procurement — Munich-based Lio’s $30M Series A announced March 5, 2026 led by Andreessen Horowitz (Partner Seema Amble) with SV Angel, Harry Stebbings, and Y Combinator participating. Total raised: $33M. Founded by Vlad Keil in 2023. Cross-referenced with TechCrunch, “Lio raises $30M from Andreessen Horowitz and others to automate enterprise procurement,” March 5, 2026. https://techcrunch.com/2026/03/05/lio-ai-series-a-a16z-30m-raise-automate-enterprise-procurement/↩

  44. BusinessWire, “Cursor Secures $2.3 Billion Series D Financing at $29.3 Billion Valuation to Redefine How Software is Written,” November 13, 2025. Accessed May 2026. https://www.businesswire.com/news/home/20251113939996/en/Cursor-Secures-$2.3-Billion-Series-D-Financing-at-$29.3-Billion-Valuation-to-Redefine-How-Software-is-Written — Cursor’s $2.3B Series D announced November 13, 2025, co-led by Accel and Coatue Management at $29.3B valuation; Andreessen Horowitz, Thrive Capital, DST Global, Google, and NVIDIA participated. ↩

  45. TechCrunch, “Substack raises $100M from Chernin Group, Andreessen Horowitz, Skims CEO, and more,” July 17, 2025. Accessed May 2026. https://techcrunch.com/2025/07/17/substack-raises-100m-from-chernin-group-andreessen-horowitz-skims-ceo-and-more/ — Substack’s $100M Series C announced July 17, 2025 at $1.1B valuation; co-led by BOND and The Chernin Group with Andreessen Horowitz, Rich Paul, and Jens Grede participating. ↩

  46. Aerodome blog, “Aerodome Raises $21.5M in Series A Funding Led by CRV,” May 22, 2024. Accessed May 2026. https://www.aerodome.com/blog/series-a/ — $21.5M Series A announced May 22, 2024, led by CRV; Andreessen Horowitz, Karman Ventures, Immad Akhund, and Ford Street Ventures participated. Drone-as-first-responder platform; subsequently acquired by Flock Safety in October 2024 for over $300M. ↩

  47. TechCrunch, “Anduril raises $5B, doubles valuation to $61B,” May 13, 2026. Accessed May 2026. https://techcrunch.com/2026/05/13/anduril-raises-5b-doubles-valuation-to-61b/ — Anduril’s $5B Series H closed May 13, 2026 at $61B post-money valuation, co-led by Thrive Capital and Andreessen Horowitz. Existing investors Founders Fund and Lux Capital also participated. Cross-referenced with SiliconAngle, “Anduril doubles valuation to $61B in new $5B funding round,” May 13, 2026, https://siliconangle.com/2026/05/13/anduril-doubles-valuation-61b-new-5b-funding-round/ and Washington Technology, “Anduril hauls in $5B for Series H round,” May 13, 2026, https://www.washingtontechnology.com/companies/2026/05/anduril-hauls-5b-series-h-round/413515/.↩

  48. Y Combinator blog, “Coinbase (YC S12) Raises $25M Led By Andreessen Horowitz,” December 12, 2013. Accessed May 2026. https://www.ycombinator.com/blog/coinbase-yc-s12-raises-25m-led-by-andreessen-horowitz/ — Confirms a16z (Chris Dixon) led Coinbase’s $25M Series B on December 12, 2013, with USV and Ribbit Capital participating. Cross-referenced with CoinDesk, “Coinbase Raises $25 Million in Bitcoin’s Biggest Ever Funding Deal,” December 12, 2013, https://www.coindesk.com/markets/2013/12/12/coinbase-raises-25-million-in-bitcoins-biggest-ever-funding-deal↩

  49. Stitch press release via Business Wire, “Stitch Raises $25M Series A Led by Andreessen Horowitz,” May 14, 2026. Accessed May 2026. https://www.businesswire.com/news/home/20260514070694/en/Stitch-Raises-$25M-Series-A-Led-by-Andreessen-Horowitz — Saudi fintech Stitch closed $25M Series A on May 14, 2026, led by Andreessen Horowitz; this is a16z’s first investment in the GCC. Existing investors Arbor Ventures, COTU Ventures, Raed Ventures, and SVC participated. Cross-referenced with PYMNTS, https://www.pymnts.com/news/fintech-investments/2026/saudi-fintech-stitch-raises-25-million-to-replace-fragmented-bank-cores/ and Wamda, https://www.wamda.com/2026/05/a16z-backs-saudi-fintech-stitch-gcc-deal.↩

  50. TechCrunch, “Why Former Loudcloud CEO Ben Horowitz Invested $10 Million In Cloud Identity Startup Okta,” July 13, 2010. Accessed May 2026. https://techcrunch.com/2010/07/13/horowitz-cloud-okta/ — Okta’s $10M Series A announced July 13, 2010, led by Andreessen Horowitz. a16z’s first cloud investment; Ben Horowitz joined Okta’s board. ↩

  51. VentureBeat, “Cloud application startup Okta raises $10M from Andreessen Horowitz,” July 14, 2010. Accessed May 2026. https://venturebeat.com/2010/07/14/cloud-application-startup-okta-raises-10m-from-andreessen-horowitz/ — Confirms $10M Series A led by Andreessen Horowitz with Ben Horowitz joining the board. ↩

  52. TechCrunch, “Legal tech Stilta announces $10M seed backed by YC and a16z months after launch,” May 19, 2026. Accessed May 2026. https://techcrunch.com/2026/05/19/legal-tech-announced-stilta-announces-10m-seed-backed-by-yc-and-a16z-months-after-launch/ — Confirms Andreessen Horowitz led Stilta’s $10.5M Seed round on May 19, 2026, with Y Combinator and operator-investors from OpenAI, Legora, and Lovable participating. Stilta automates IP research with AI agents that search conflicting patents and compile filing/court histories. ↩

  53. BusinessWire, “Mercury Raises $200 Million Series D at $5.2B Valuation,” May 20, 2026. Accessed May 2026. https://www.businesswire.com/news/home/20260520511817/en/Mercury-Raises-$200-Million-Series-D-at-$5.2B-Valuation — Confirms Andreessen Horowitz participated in Mercury’s $200M Series D on May 20, 2026 at $5.2B valuation (up 49% from $3.5B March 2025 Series C); TCV led; existing investors CRV, Sapphire Ventures, Sequoia Capital, Spark Capital, and Coatue also participated. ↩

  54. Exa Blog, “Exa Raises $250M Series C to Build the Search Engine for AIs,” May 2026. Accessed May 2026. https://exa.ai/blog/announcing-series-c — Confirms Andreessen Horowitz led Exa Labs’ $250M Series C on May 20, 2026 at $2.2B valuation. Cross-referenced with Bloomberg, “Andreessen-Backed AI Search Startup Exa Valued at $2.2 Billion,” May 20, 2026. https://www.bloomberg.com/news/articles/2026-05-20/andreessen-backed-ai-search-startup-exa-valued-at-2-2-billion — Exa powers search for Cursor, Cognition, HubSpot, OpenRouter, Monday.com, and 400,000+ developers. ↩

  55. Socket Blog, “Socket Raises $60M Series C at a $1B Valuation to Help Enterprises Build Securely With AI,” May 20, 2026. Accessed May 2026. https://socket.dev/blog/socket-raises-60m-series-c-press-release — Confirms Andreessen Horowitz participated in Socket’s $60M Series C on May 20, 2026 at $1B valuation led by Thrive Capital; Abstract Ventures and Capital One Ventures also participated. ↩

  56. PR Newswire, “Amca Closes $300M Series B at $1B+ Valuation to Strengthen America’s Critical Component Supply Chain,” May 20, 2026. Accessed May 2026. https://www.prnewswire.com/news-releases/amca-closes-300m-series-b-at-1b-valuation-to-strengthen-americas-critical-component-supply-chain-302776943.html — Confirms Andreessen Horowitz participated in Amca’s $300M Series B on May 20, 2026 at $1B+ valuation; Caffeinated Capital led; Lightspeed Venture Partners, Lux Capital, Construct Capital, House Capital also participated. ↩

  57. Axios Pro Rata, “May 26, 2026 venture deals: Arc raises $10.8M seed led by a16z; OpenRouter raises $113M at $1.3B valuation led by CapitalG with a16z and Menlo Ventures follow-on,” May 26, 2026. Accessed May 2026. https://www.axios.com/newsletters/axios-pro-rata — Confirms Andreessen Horowitz led Arc QSR’s $10.8M seed on May 26, 2026 and participated as follow-on investor in OpenRouter’s $113M Series B on the same date (CapitalG led; Menlo Ventures also participated). ↩↩

  58. Andreessen Horowitz, “Investing in Town,” by Alex Rampell and Justine Moore, June 3, 2026. Accessed June 2026. https://a16z.com/announcement/investing-in-town/ — Primary source: a16z led Town’s $55M Series A on June 3, 2026, co-led with Forerunner Ventures, with First Round Capital, Alt Capital, and Conviction also participating. Cross-referenced with GlobeNewswire/Yahoo Finance, “Town Raises $55M Series A From a16z and Forerunner,” June 3, 2026. https://finance.yahoo.com/sectors/technology/articles/town-raises-55m-series-a16z-134500847.html and Fortune, “Andreessen Horowitz and Forerunner are betting $55 million on Town’s deeply personal AI assistants,” June 3, 2026. https://fortune.com/2026/06/03/towns-ai-assistants-andreessen-horowitz-forerunner-55-million/↩