Andreessen Horowitz defies the VC funding slowdown, raising $15 billion for new funds

Summary

Kate Rooney reports that Andreessen Horowitz raised more than $15 billion across five new funds, its largest ever, despite a broader VC fundraising slowdown. The raise includes a nearly $7 billion growth fund plus AI, healthcare, and American Dynamism strategies, pushing a16z assets above $90 billion. She says top-tier firms still attract LP capital while smaller and first-time funds face pressure, and highlights a16z's defense/national-security and AI-software/government spending bets.

• Andreessen Horowitz raised over $15 billion across five new funds, its largest fundraise.
• The raise includes an almost $7 billion growth fund plus AI, healthcare, and American Dynamism strategies.
• a16z assets now top $90 billion and the firm says it accounts for about a fifth of all venture dollars.
• Broader VC fundraising has slowed, and LPs are cautious on smaller and first-time funds.
• Scarce tech IPOs and a tough 2021 vintage have pressured VC returns and LP commitments.
• Ben Horowitz framed a16z as the American leader in venture and warned of geopolitical consequences of losing to China.
• a16z has been an early backer of defense/national-security startups and is betting AI and software keep intersecting with military and government spending.