Wednesday, February 1, 2012

"Andreessen Horowitz Raises $1.5B For Third Fund" (the Smartest Firm in the Valley or the Most Dangerous?)

Like Bain Capital, Andreessen Horowitz is also invested in the Kardashians, in AH's case by way of Kim's fashion site ShoeDazzle.
Two from peHUB:
Andreessen Horowitz has raised another whopper of a fund, the firm announced Tuesday.
The VC, as earlier reported, will bring another $1.5 billion into its coffers–coffers that have already backed some of Silicon Valley’s most prestigious startups.

One of its first deals, in Skype, proved to be a successful investment and since then, the VC has pumped cash into companies including Airbnb, Groupon and Zynga....MORE
As most industry observers already know, today Andreessen Horowitz, the Sand Hill Road firm, announced it has closed on $1.5 billion in fresh capital, bringing the money raised by the firm – founded less than three years ago — to a stunning $2.7 billion.

Whether that’s good news or bad for Silicon Valley is an open question.

The firm’s LPs are clearly pleased with the direction of the firm thus far. Cofounder Ben Horowitz tells me the firm could have easily raised “$5 billion. We had guys wanting to write really big checks.”
The LPs’ zeal is understandable. While Horowitz says he “doesn’t want to overstate where we are,” he adds that according to one of the firm’s LPs, Andreessen Horowitz enjoys the second best IRR in the venture industry right now.

The firm made at least a 3x return on its $50 million investment in Skype (which sold to Microsoft last May), money that Andreessen Horowitz returned to investors....MORE