Venture capital firm Andreessen Horowitz has increased its fifth growth fund to $8.5 billion. The firm added $1.75 billion to the vehicle, which originally launched in January with a capital base of $6.75 billion.
This expansion follows the recent launch of the Machine Age Fund, which secured $1.1 billion. This new fund focuses on AI hardware startups, specifically those developing chips, memory, networking, and storage solutions.
The growth fund targets startups scaling their operations, products, and geographic reach. Over the past seven years, the fund has deployed capital into more than 100 companies, according to general partner David George.
The firm is currently investing across various sectors, including enterprise and consumer AI, defense technology, robotics, infrastructure, and health tech. Additionally, the company is allocating funds toward political activities and lobbying efforts.
These latest capital injections follow a broader announcement from January, when the firm raised $15 billion in new funding. At that time, Andreessen Horowitz reported $90 billion in total assets under management.