Andreessen Horowitz is raising a fourth fund with a target of $1.5 billion, Fortune reported.
The report is surprising, given that the firm closed on $1.5 billion for its third fund in January 2012. Venture firms typically go three to four years between each fund. If Andreessen is already raising fund IV, then that suggests that its third fund is getting close to being fully committed.
Andreessen Horowitz invested in 73 companies last year, according to Thomson Reuters (publisher of peHUB). Companies it backed last year include shopping site Fab.com, food-replacement maker Soylent, ride-sharing service LYFT, social sharing site Pinterest, stealth payment company Clinkle, and bitcoin wallet maker Coinbase.
Andreessen was the eighth most active U.S.-based venture firm in 2013, behind such firms as Kleiner Perkins Caufield & Byers, Draper Fisher Jurvetson and New Enterprise Associates, Thomson Reuters reported.DON'T MISS IT! After two successful conferences on the East Coast, we’re bringing our LPs and fund managers to San Francisco for the first annual Emerging Manager Connect West on May 11. Don’t miss out on insightful panels and great networking! CLICK HERE for details.