Marc Andreessen started a company back in 1999 with Ben Horowitz. Andreessen was the Chairman and Horowitz was the CEO of the company. HP bought the company out for $1.6 billion. Andreessen started the company about a year after AOL spent $4.2 billion on Netscape, another company he founded.
Andreessen and Horowitz worked together at Netscape before starting Opsware. Lately Andreessen and Horowitz have been investing actively in businesses together which is good practice for their fund. This past August the both of them invested in live online streaming video company Qik.
According to a report at PEHub, the both of them are planning to launch an early stage venture capital fund. The opening fund is expected to be around $250 million because that is what the two are shopping around for. Initial investments would be around $500,000. This is five times the amount that Horowitz and Andreessen normally invest out of their own pockets.
It is uncertain whether they will be able to raise that sort of investment for their venture capital company in this type of economy, but between the two they have an impressive track record so you never know.