Venture capital giant Andreessen Horowitz raised $9 billion through three new funds to invest across startups in different sectors, amid a global funding boom as large investors back high-growth tech startups at a record pace.
The firm raised $1.5 billion for a biotech-focused fund, $5 billion for a growth fund meant for scaling startups and $2.5 billion for a venture fund, it said in a blog post on Friday.
READ ALSO: Sequoia first investment in Mexico: Draftea raises $13.2 million
The latest fundraise, one of the largest from Silicon Valley venture funds in recent years, comes months after Andreessen Horowitz raised two new funds – a $2.2 billion crypto-focused fund in June last year and a $400 million fund for seed investments in early-stage tech startups.
READ ALSO: Advent International’s Brenno Raiko: “Our strategy is not to ‘spray and pray.’ Instead, we make larger, concentrated deals, and we make them with more conviction.”
Andreessen Horowitz, informally referred to as a16z, plans to use the capital to double down on tech startups across different sectors.
A number of its portfolio companies, including Coinbase, Roblox, Affirm and enterprise software firm Samsara, went public last year.