Andreessen Horowitz Secures Its Largest Fundraise Ever at More Than $15B
Andreessen Horowitz has raised more than $15 billion across a new set of funds, marking the largest fundraising in the firm’s history and one of the biggest venture capital raises in recent years.
Completed less than two years after its previous raise, the $15 billion spans five vehicles. The largest, the American Dynamism Growth Fund, raised $6.75 billion and is aimed at supporting later-stage companies in sectors such as defence, aerospace, energy and manufacturing.
The scale of the raise stands out in a venture market that remains under pressure. Exit activity has been limited in recent years, and overall VC fundraising has declined, with fewer funds closing and investors becoming more selective.
Against that backdrop, Andreessen Horowitz’s ability to more than double its 2024 fundraising total of $7.2bn highlights the continued pull of large, multi-strategy platforms with established track records.
A small group of firms accounted for a significant share of capital raised in 2025, including Lightspeed Venture Partners, which raised more than $9bn across six funds, Founders Fund, which closed its third growth fund at $4.6bn, and Dragoneer Investment Group, which secured about $4.3bn for its seventh venture fund.
Andreessen Horowitz’s new funds reinforce the firm’s growing emphasis on artificial intelligence, infrastructure and defence-related technologies. These areas have benefited from increased government spending and a sharper political focus on technological competitiveness, particularly in relation to China.
Founded in 2009 by Marc AndreessenDealroom has a profile for this one. Try Dealroom → and Ben HorowitzDealroom has a profile for this one. Try Dealroom →, the firm has backed companies including Facebook, Instagram, Coinbase and Lyft. With assets under management now exceeding $90 billion, the latest raise further consolidates its position among the most influential venture capital firms globally.
Sources:
Andreessen Horowitz
Reuters
Los Angeles Times
CNBC
Tech Funding News
The Daily Star
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