VC firm Andreessen Horowitz plans to raise billions of dollars for AI, some of which will go into two funds

VC firm Andreessen Horowitz was co-founded by Ben Horowitz. getty

Silicon Valley venture capital giant Andreessen Horowitz is aiming to raise $6.9 billion from investors for a new collection of funds, including two deals focused on artificial intelligence, according to people familiar with the matter. .

The company is raising money for a master fund, half of which will go to the company’s fourth growth fund, said the person, who asked not to be identified. Two years ago, the company raised $5 billion to fuel growth.

The other half of the new funding will go to two dedicated artificial intelligence funds, a gaming fund and a fund backing startups in a field called American Dynamism, the people said. The company defines American Dynamism as companies “working on the most pressing problems” in the United States, including sectors such as aviation, defense and manufacturing.

Andreessen Horowitz plans to wait until next year to raise more cash for its crypto and bio funds, the people said. Andreessen Horowitz invested $4.5 billion in crypto funds in 2022.

The company did not respond to requests for comment. News of this year’s fundraiser was previously reported by Axios.