Andreessen Horowitz Closes $1.5 Billion New Fund

Last week, we heard from Evelyn Rusli at the New York Times that Andreessen Horowitz was in the process of raising $1.5 billion for the venture firm. Today, partner Ben Horowitz has confirmed that the fund has closed, bringing Andreessen Horowitz's total funding under management to $2.7 billion. The firm says that the $1.5 billion was raised for its Fund III. ?a16z?s Fund III is all about extending our capabilities to more disruptors and pioneers,? said Horowitz in a release. ?We?re remaking the modern venture capital firm, and entrepreneurs are responding to our unique approach.?

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