Andreessen Horowitz

Andreessen Horowitz (a16z) pursues a multi‑stage, multi‑practice venture model grounded in the conviction that software—and now AI‑augmented software—will continue to reshape every industry. The firm allocates capital across dedicated practices in AI & infrastructure, consumer & enterprise apps, bio + health, crypto/web3, games, and “American Dynamism,” which targets defense, aerospace, manufacturing, energy, logistics, housing, and other national‑interest sectors. a16z pairs large‑scale capital with a robust platform of operators (marketing, talent, policy, legal) to accelerate founders. Investment decisions favor platform shifts (cloud, mobile, crypto, generative AI), network effects, and “picks‑and‑shovels” infrastructure that scale with market growth. The firm leads or co‑leads at seed and Series A, backs technically ambitious pre‑revenue founders, and continues support through growth‑stage, capital‑intensive rounds. While U.S.‑centric, a16z is pragmatic about policy, exemplified by its London crypto office to leverage favorable regulation. The firm avoids rigid stage‑specific ARR metrics, instead aligning check size and support to the ambition and product‑market fit evidence. Across all sectors, the core belief is that builders will create the future, and a16z’s role is to provide capital, operational expertise, and policy scaffolding to enable that creation.

Andreessen Horowitz invests in opportunities that promise asymmetric upside and market‑shaping potential. They prioritize the strength of the founding team and the size of the addressable market, often backing contrarian founders even before revenue. Traction metrics such as unit economics, retention, and growth become more important at later stages, but early bets rely heavily on founder insight and vision. Deal‑breakers include poor unit economics with no clear path to improvement, lack of differentiated product, or an unconvincing market view. For marketplace or consumer models they scrutinize engagement, GMV, and revenue quality, while for SaaS they require clean ARR definitions.

• GitHubLead
  Defined the modern developer workflow; aligns with a16z’s thesis on tools that empower builders.
• CoinbaseLead
  Earliest scaled crypto exchange; core to a16z’s crypto conviction.
• Oculus VRLead
  Flagship bet on immersive consumer hardware/platforms, fitting a16z’s focus on next‑generation interfaces.
• DatabricksLead
  Big‑data/AI infrastructure aligning with the firm’s enterprise and AI theses.
• OpenSeaLead
  Leading NFT marketplace advancing the web3 ownership economy, matching a16z’s crypto and creator‑economy focus.
• ClubhouseLead
  Social audio network exemplifying new consumer network formats, fitting the firm’s consumer innovation thesis.
• Airbnb
  Illustrates power‑law success in consumer marketplaces; a16z participated as a follower.
• Slack
  Enterprise collaboration leader that broadens a16z’s portfolio beyond lead roles.

• AC
  Andrew Chen

  General Partner

  consumertechnology & entertainmentAI (Speedrun initiative)
• DG
  David George

  General Partner

  Growth investinglate‑stage SaaS & infrastructure
• JC
  Jorge Conde

  General Partner

  Bio + Healthlife scienceshealthcare
• SW
  Sarah Wang

  General Partner

  Growth‑stage AIenterprise applicationsinfrastructure
• AS
  Angela Strange

  General Partner

  financial servicesinsuranceB2B software (with AI)