Venture Capital · Profile from Venture Capital Research Companion
Andreessen Horowitz (a16z)
The Menlo Park firm founded by two operator-entrepreneurs that rebuilt venture capital around a talent-agency-style platform, media and brand, then scaled into a multi-strategy, ~$90bn+ registered investment adviser spanning seed to growth, crypto, bio, American Dynamism and AI infrastructure.
At a glance
- Founded
- 2009 (first fund closed July 2009), Menlo Park, California
- Founders
- Marc Andreessen (co-creator of Mosaic, co-founder of Netscape and Opsware/Loudcloud) and Ben Horowitz (co-founder and CEO of Loudcloud/Opsware)
- Headquarters
- Menlo Park, CA (Sand Hill Road); offices/teams in San Francisco, New York, Washington D.C., Miami, London (a16z crypto, opened 2023); declared itself "cloud-first"/distributed after 2020
- Ownership / structure
- Private partnership owned by its general partners; registered with the SEC as an investment adviser (RIA) since 2019, which removes the 20% cap on non-qualifying (crypto, secondary, public) investments that applies to "venture capital fund" exempt advisers
- Leadership (2026)
- Co-founders Marc Andreessen and Ben Horowitz (general partners and de facto co-heads); general partners running verticals including Chris Dixon (crypto), Katherine Boyle and others (American Dynamism), David George (growth), Martin Casado (infrastructure/AI), Alex Rampell and Anish Acharya (apps/fintech), Vijay Pande and Jorge Conde (bio + health) (verify current roster). Long-time managing partner Scott Kupor left in 2025 to become Director of the U.S. Office of Personnel Management
- AUM / capital raised
- ~$35bn (2022) → ~$42bn+ (2023–24) → "more than $90bn" after the >$15bn raise announced January 2026 (some 2026 sources cite $100bn+; verify)
- Stage focus
- All stages: seed (incl. Speedrun accelerator), early venture (verticalised funds), growth (dedicated growth funds), plus crypto (incl. tokens), bio, AI infrastructure, American Dynamism and public/secondary positions
- Signature investments
- Skype, Facebook (secondary), Instagram (seed), Twitter, Airbnb, GitHub, Oculus, Slack, Lyft, Okta, Coinbase, Databricks, Stripe, Pinterest, Figma, Roblox, OpenAI (later rounds), Anduril, Flock Safety; instructive misses and failures: Zenefits, Clubhouse, BuzzFeed, Jet-era e-commerce bets, many 2021-vintage crypto and consumer marks, Flow (controversial, outcome open)
10 deals and moves analysed
Each one gets a full strategy file in the companion: context, the decision, the financing, what happened, and the lesson.
2009
Skype
Carve-Out from eBay
2010
Instagram
Seed
2011
Airbnb
Series B
2012
GitHub
Series A
2013
Coinbase
Series B
2013
Databricks
Series A
2013
Oculus
Series B
2014
Zenefits
Series A
2020
Clubhouse
Series A
2022
Flow
Series A