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Andreessen-Horowitz raises $1.5B for its new fund

As the New York Times reported last week, Andreessen-Horowitz has raised, yet again, a Very Large fund.

Andreessen Horowitz (or a16z, as it’s sometimes called) announced today that it has raised $1.5 billion for its Fund III. The venture capital firm has now raised a total of $2.7 billion since its founding in June 2009.

Co-founder and General Partner Ben Horowitz has a post on his blog with some detail on the thought process behind this step:

Since Marc and I founded Andreessen Horowitz three years ago, we have raised $2.7 billion. That statement begs a few questions. The two most obvious are:

  • Why did such a new venture capital firm raise so much money?
  • How did such a new venture capital firm raise so much money?

And for the answer to those questions, read the post above, since it isn’t very condensable into a soundbite. :)