A16z plans to raise $6.9 billion for funds focused on AI, pausing the expansion of cryptocurrency funds
According to a source familiar with the matter, Silicon Valley venture capital giant Andreessen Horowitz plans to raise $6.9 billion from investors to establish a series of new funds, including two focused on artificial intelligence. The source said that half of the new funding will be used for two dedicated artificial intelligence funds, a gaming fund, and a fund supporting startups in vital areas in the United States. The company defines American vitality as companies that "address America's most pressing issues," including industries such as aviation, defense, and manufacturing. Andreessen will wait until next year to raise more cash for its cryptocurrency and biofund. In 2022, Andreessen Horowitz invested $4.5 billion in crypto funds.
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