Source: AFP
Silicon Valley venture capital star Andreessen Horowitz said Tuesday it has raised $7.2 billion to invest in startups behind games, apps, artificial intelligence and more.
More than half of the money spread across five funds is dedicated to a “growth” strategy for fledgling startups, potentially breathing new life into a moribund trend of new companies being bought or going public with stock offerings.
“This marks a major milestone for us,” the VC firm’s co-founder and general partner Ben Horowitz said in a blog post.
Other “strategies” targeted for investment were apps, games, “American Dynamism” and technology “infrastructure” including artificial intelligence (AI).
“Artificial intelligence represents a generational shift in computing—following in the footsteps of the microprocessor and the Internet—and will deliver commensurate improvements in cost, efficiency, and human productivity,” Horowitz wrote.
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“We believe that infrastructure supports this coming change, as it does with many other transformative technologies.”
The infrastructure fund raised $1.25 billion, according to Horowitz.
American Dynamism, funded with $600 million, will target investments in startups in areas of “national interest” such as aerospace, defense, public safety, education and supply chain, he explained.
An equal amount of investment money was raised to invest in gaming startups, with the veteran VC expressing his belief that “gaming will play a pivotal role in defining how we socialize, play and work in the next century.”
A fund dedicated to apps raised $1 billion, according to Horowitz.
The VC firm launched in 2009 is known for early investment in tech stars like Facebook and Airbnb.
Source: AFP