Marc Andreessen and Ben Horowitz Venture Fund Raises $300 Million
[Horowitz: left, Andreessen: right]
Back in April it was rumored that Marc Andreessen and Ben Horowitz was seeking $250 million for an early stage fund. It turns out that the two have raised a bit more than that: $300 million. Andreesen and Horowitz started a company together called OpsWare which sold to HP for $1.6 billion. Before that Andreessen and Horowitz worked at AOL together.
The fund was nicknamed Project A, but now it is called Andreessen-Horowitz. The fund was built through the support of several major institutional investors along with several universities. Some of them have invested as high as $20 million each while others have put in $1 million or less.
Andreessen started Netscape and serves on the board for Facebook and eBay. Andreessen is an adviser in Twitter and an angel investor in Facebook, Digg, and LinkedIn. Both Andreessen and Horowitz invested in Qik together.