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Liam Gill
April 17, 2024
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News of the Day
Andreessen Horowitz announced the raising of $7.2 billion across five different funds, signaling strong confidence in the tech sector despite recent challenges in achieving significant exits. The largest portion of the funds, $3.75 billion, is allocated to a growth fund targeting later-stage companies. Other allocations include $1.25 billion for infrastructure investments, particularly in AI, $1 billion for apps, and $600 million each for gaming and American dynamism, focusing on sectors like aerospace, defense, and housing. This fundraising comes amid a broader downturn in venture capital activity, with U.S. venture investment volumes dropping to their lowest since 2017 and global volumes at their lowest since 2016. Despite the market slowdown, Andreessen Horowitz's move reflects optimism, especially in AI, although there is no new funding directed towards cryptocurrencies, a previously favored sector by the firm.
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Onwards and Upwards,
