Andreessen Horowitz raised over $15 billion—its largest-ever funding haul and more than double its 2024 raise—bringing total assets under management above $90 billion. The raise signals both the firm’s continued dominance in venture capital and its strategic bet on AI as the defining technology platform of this decade.
Nearly half goes to the growth fund for mature startups like Anduril, Cursor, and Databricks—companies that have proven product-market fit and need capital to scale toward market dominance.
The AI-focused funds doubled significantly:
AI Application Fund: $1.7 billion (vs. $1 billion previously)
AI Infrastructure Fund: $1.7 billion (vs. $1.25 billion previously)
American Dynamism Fund: $1.2 billion for defense and national interest technology (nearly doubled)
The Strategic Framing
Co-founder Ben Horowitz framed the mission explicitly: “ensuring that America wins the next 100 years of technology.”
This isn’t just marketing. The fund sizing reveals a16z’s structural thesis:
AI infrastructure and applications warrant equal capital allocation—betting on both the picks and the shovels
Defense tech deserves dedicated billion-dollar commitment as geopolitical competition intensifies
Growth-stage companies need the most capital as they scale toward winner-take-most outcomes
What This Means
The $15B raise isn’t just a16z getting bigger—it’s a structural signal about where venture capital sees opportunity. With AI capturing 44% of all startup funding (per Carta data), a16z is positioning to capture disproportionate share of the winners.
This connects to platform business model dynamics—the winners in AI will likely be platforms that capture network effects across applications and infrastructure. a16z is building a portfolio to own pieces of both layers.
Gennaro is the creator of FourWeekMBA, which reached about four million business people, comprising C-level executives, investors, analysts, product managers, and aspiring digital entrepreneurs in 2022 alone | He is also Director of Sales for a high-tech scaleup in the AI Industry | In 2012, Gennaro earned an International MBA with emphasis on Corporate Finance and Business Strategy.
