Andreessen Horowitz (a16z) plans to raise a total of $6.9 billion for a series of new funds, including two funds focused on artificial intelligence, people familiar with the matter said.
a16z is raising money for a master fund, half of which will go toward the firm’s fourth growth fund, people familiar with the matter said. The remaining half of its target funding will be used for two dedicated artificial intelligence funds, a gaming fund and a fund to support startups in dynamic fields in the United States. a16z defines American Vitality as companies that “solve America’s most pressing problems,” including industries such as aerospace, defense and manufacturing.
a16z will wait until next year to raise more cash for its cryptocurrency and bio funds, with a16z investing $4.5 billion in crypto funds in 2022. (Fortune)