- Andreessen Horowitz has set up a $750 million biotech fund called Bio Fund III
Andreessen Horowitz has set up a $750 million fund that is focused on biotech. This is the firm’s third biotech fund since 2015.
Bio Fund III will be overseen by Vineeta Agarwala, Jorge Conde, Vijay Pande, and Julie Yoo. In an interview with Business Insider, Andreessen Horowitz general partner Jorge Conde said that this fund is going to pursue opportunities in the life sciences industry. Plus the fund may also be used for bringing biotech into industries like manufacturing, agriculture, textiles, etc.
“We are now approaching a new ability to rethink bio’s biggest problems, from intractable diseases and massive inefficiencies or disparities in an overburdened healthcare system, to what we eat, what we wear, what we build, even how we heal our planet. And we will do this by using our most advanced technological tools, as well as the engineering principles that brought them to us,” wrote the Andreessen Horowitz team in a blog post. “This revolution is being driven by a new breed of founder who is multi-disciplinary and not scared to challenge the status quo or conventional wisdom. Whether they think of themselves as protein engineers or cell engineers, data scientists or software engineers, they are using technology and engineering processes to build products instead of chasing the lucky strike of discovery.”
Andreessen Horowitz has seen tremendous success in making early investments in companies like Facebook, Instagram, Slack, Lyft, Box, Okta, Pinterest, Groupon, etc.
Andreessen Horowitz’s first biotech fund closed at $200 million. And two years later, the firm set up a $450 million fund. So this third fund is more than the first two combined.
