Skip to search.

Marc Andreessen Raises $300M Venture Firm; Predicts Hundreds of Others Will Close

Posted Jul 06, 2009 12:01am EDT by Sarah Lacy in Investing, Internet, Newsmakers, Products and Trends
Related: TWX, ^IXIC, HPQ

Marc Andreessen and long-time co-founder and co-angel investor Ben Horowitz have closed their new venture capital fund, and it’s a whopper: $300 million. Never mind the toughest fundraising environment in some 40 years thanks to the across-the-board financial meltdown, between them Andreessen and Horowitz have the rare accomplishment of having founded two companies to exit at more than $1 billion each, Netscape and Opsware. That, and they boast one of the hottest Web 2.0 angel portfolios in Silicon Valley with stakes in Twitter, LinkedIn, Facebook and Andreessen’s third startup, Ning.

We sat down with the normally-elusive Marc Andreessen to get more details on his move “to the dark side.” In this clip, he explains how just two guys will invest such a large fund, and he makes it clear that his good news isn’t shared industry-wide. Andreessen predicts hundreds of venture firms will be out of business in the next five to 10 years.

Go to Tech Ticker

There are no comments yet

Post a comment

Sign in to post a comment, or Sign up for a free account.
Quotes delayed, except where indicated otherwise. Delay times are 15 mins for NASDAQ, NYSE and Amex. See also delay times for other exchanges.

Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes for NASDAQ, NYSE and Amex. See also delay times for other exchanges. Real-Time continuous streaming quotes are available through our premium service. You may turn streaming quotes on or off. Fundamental company data provided by Capital IQ. Financials data provided by Edgar Online. Historical chart data and daily updates provided by Commodity Systems, Inc. (CSI). International historical chart data, daily updates, fund summary, fund performance, dividend data and Morningstar Index data provided by Morningstar, Inc. Analyst estimates data provided by Thomson Financial Network. All data provided by Thomson Financial Network is based solely upon research information provided by third party analysts. Yahoo! has not reviewed, and in no way endorses the validity of such data. Yahoo! and ThomsonFN shall not be liable for any actions taken in reliance thereon. All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.