Venture capital firm Andreessen Horowitz, also known as a16z, said on Friday it has raised more than $15 billion across five new funds, less than two years after its previous fundraising round, underscoring sustained investor appetite for technology despite a broader slowdown in venture capital fundraising.
The firm said it secured $6.75 billion for a growth fund focused on scaling startups, $1.7 billion for an artificial intelligence infrastructure fund, and $1.12 billion for a fund targeting national priorities such as defense, housing and supply chains. The remaining capital was spread across two additional funds, the firm said.
Venture capital fundraising has remained difficult due to weak exit activity in recent years. According to PitchBook data, only $118.6 billion in new commitments were closed last year, nearly $100 billion less than in 2024, while the number of new funds closed in 2025 was the lowest in a decade. Against that backdrop, a16z’s haul highlights how the largest and most established VC firms continue to attract capital from limited partners.
AI and defense technology have emerged as key bright spots, as the United States intensifies efforts to maintain its technological edge amid growing competition from China. Marc Andreessen, a co-founder of the firm, has been a prominent supporter of U.S. President Donald Trump and an adviser to the administration’s Department of Government Efficiency.
“The technology landscape that we will be investing into is intensely competitive with China,” said Ben Horowitz, co-founder and general partner at a16z. “At this moment of profound technological opportunity, it is fundamentally important for humanity that America wins.”
Reuters reported last April that a16z was seeking to raise a roughly $20 billion megafund focused on AI-driven growth-stage investments. The firm is one of Silicon Valley’s most influential venture capital players and has backed major technology companies including Facebook, Instagram, Coinbase and Lyft.
In its previous major fundraising round in April 2024, a16z raised $7.2 billion across five funds. The firm now manages more than $90 billion in assets across all its investment vehicles.