Venture capital giant Andreessen Horowitz raised $9 billion through three new funds to invest across startups in different sectors, amid a global funding boom as large investors back high-growth tech startups at a record pace.
The firm raised $1.5 billion for a biotech-focused fund, $5 billion for a growth fund meant for scaling startups and $2.5 billion for a venture fund, it said in a blog post on Friday.
The latest fundraise, one of the largest from Silicon Valley venture funds in recent years, comes months after Andreessen Horowitz raised two new funds – a $2.2 billion crypto-focused fund in June last year and a $400 million fund for seed investments in early-stage tech startups.
Andreessen Horowitz, informally referred to as a16z, plans to use the capital to double down on tech startups across different sectors.
A number of its portfolio companies, including Coinbase Global Inc, Roblox Corp, Affirm Holdings Inc and enterprise software firm Samsara Inc, went public last year.