Andreessen Horowitz, the venture firm backed by Netscape founder Marc Andreessen and tech entrepreneur Ben Horowitz, announced Tuesday that it had raised $1.5 billion in its third round of funding.
This will bring the firm's assets under management to $2.7 billion. It's a very opportunity-rich environment right now, said Andreessen. He added that the firm planned to stick to its strategy of investing in companies with the potential to upend an industry.
The firm started with $300 million in 2009 and then raised $900 million more in 2010. Andreessen Horowitz's portfolio currently includes 90 companies, including Foursquare, Pinterest, Zynga and Facebook.
Horowitz also released some data on how the firm works and how that translates into quantifiable action. In 2011, the firm hosted more than 600 portfolio company presentations with corporations or partners, which turned into more than 3,000 introductions to major corporations. The two new funds consist of a $900 million main vehicle and a $600 million parallel fund, said Horowitz. The parallel fund will be deployed opportunistically, he added.
We are uniquely positioned to help the greatest technology entrepreneurs in the world build the best technology companies in the world, and that's just what we're going to do, wrote Horowitz in his blog.