Venture capital firm Andreessen Horowitz has expanded its fifth growth fund to $8.5 billion. That means the firm added another $1.75 billion since the fund launched in January with $6.75 billion.
The firm’s announcement comes just days after a16z announced it had raised a fresh $1.1 billion for a new and different fund that it’s calling the “Machine Age Fund.” The fund’s throwback, steampunk-esque name reflects its focus on AI hardware startups developing chips, memory, networking, and storage.
Originally reported by TechCrunch. Read the full story at the original source.
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