Dec 14, 2023 - Business

Andreessen Horowitz says it will donate to political candidates

Photo illustration of Ben Horowitz and Marc Andreessen on a background of money

Photo Illustration: Eniola Odetunde/Axios. Photos: Kimberly White (Stringer), Brad Barket (Stringer)/Getty Images

Venture capital firm Andreessen Horowitz plans to begin making donations to political candidates who support what it sees as "advancing technology."

Why it matters: Venture capitalists have backed politicians since there have been venture capitalists, but firms themselves usually don't.

Details: The news was disclosed in a blog post by firm co-founder Ben Horowitz, and it echoed a recent "techno-optimist manifesto" published by his partner Marc Andreessen.

  • In short, the firm supports politicians who support swift innovation and startups, particularly in areas of AI, biomedical research and decentralized tech.
  • Andreessen Horowitz isn't opposed to regulation, per se, but believes certain safety measures are better suited to a prior era and that a lot of new tech rules are written for the sake of regulatory capture by incumbents.

What they're saying: "We are non-partisan, one issue voters: If a candidate supports an optimistic technology-enabled future, we are for them. If they want to choke off important technologies, we are against them."

Zoom out: There is a political action committee affiliated with the National Venture Capital Association, of which Andreessen Horowitz is a member, but firms themselves don't direct where those monies go.

  • It also restricts its donations to congressional candidates, eschewing presidential elections.

The bottom line: Andreessen Horowitz is one of the world's richest venture capital firms, and both of its namesake partners are billionaires. But there's no word yet on how much money it plans to donate, or any initial recipients.

  • The firm has not yet returned a request for comment.
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