May 1, 2019

Scoop: Andreessen Horowitz closes on two new funds

Dan Primack

Andreessen Horowitz co-founder Ben Horowitz speaks onstage at TechCrunch Disrupt SF 2018 in San Francisco. Photo: Steve Jennings/Getty Images for TechCrunch

Andreessen Horowitz has closed on two new funds, Axios has learned.

The big picture: Last year we previewed the venture giant's new capital strategy, which was moving away from the multi-stage, multi-sector flagship vehicles for which it was known.

Details: The new vehicles are a $750 million early-stage effort and a $2 billion later-stage fund that will be led by recent hire David George.

  • Andreessen Horowitz continues to invest out of dedicated bio and crypto funds, both of which are eventually expected to raise new successors.
  • For the sake of symmetry, this puts the firm's total fundraising haul at nearly $10 billion, just as it hits its 10th anniversary.

Go deeper: Review Andreessen Horowitz's fundraising strategy

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Axios

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 5 p.m. ET: 657,691 — Total deaths: 30,438 — Total recoveries: 139,263.
  2. U.S.: Leads the world in cases. Total confirmed cases as of 5 p.m. ET: 119,748 — Total deaths: 1,991 — Total recoveries: 921.
  3. Federal government latest: President Trump is considering a quarantine on New York, parts of New Jersey and Connecticut. He signed a $2 trillion stimulus bill to give businesses and U.S. workers financial relief.
  4. State updates: Alaska is latest state to issue a stay-at-home order — New York is trying to nearly triple its hospital capacity in less than a month and has moved its presidential primary to June 23. Some Midwestern swing voters that supported Trump's handling of the virus less than two weeks ago are now balking at his call for the U.S. to be "opened up" by Easter.
  5. World updates: In Spain, over 1,400 people were confirmed dead between Thursday to Saturday.
  6. 🚀 Space updates: OneWeb filed for bankruptcy amid the novel coronavirus pandemic.
  7. Hollywood: Tom Hanks and Rita Wilson have returned to U.S. after being treated for coronavirus.
  8. What should I do? Answers about the virus from Axios experts — What to know about social distancing — Q&A: Minimizing your coronavirus risk
  9. Other resources: CDC on how to avoid the virus, what to do if you get it.

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