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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 TrendsMarc 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.
30 Comments
Leo - Monday July 06, 2009 10:45AM EDT
We've begun the second leg down, folks, IMO. The traders who jumped in late on this correction will be hitting the exit doors once they see that we're going to retest. What's worse, the longs will have been twice bitten, twice shy, so don't look for a rapid return to these levels.
b a - Monday July 06, 2009 10:55AM EDT
this guy is an expert how? to talk about CEO's and their experience running companies. ha ha. where do i sign up to give him some money? maybe i can borrow a couple mil, from obama?????
Yahoo! Finance User - Monday July 06, 2009 11:03AM EDT
We need to Stop the Congress & Barry O from spending our future, children and grand childrens futures! Call your Senators today since they are debating Health Care and CAP & Trade!!! As for Barry O's citizenship, GOOGLE Barry Soetoro, it seems that this is the name he used to get financial aid as a foreign student from Indonesia when he attended Occidental College. The Supreme Court now has his papers - Occidental released college transcripts under the American for Freedom of Information Act.
Ray - Monday July 06, 2009 11:05AM EDT
He will pay for someones vision. Companies start for a number of reasons and a few get it right. It is impossible to know which one so it is an adventure. The new GM is almost ready to go.
kerry b - Monday July 06, 2009 11:06AM EDT
The next boob who asks for Lacy to lose some weight gets a foot up their you-know-what. She's too thin as it is.
Yahoo! Finance User - Monday July 06, 2009 11:32AM EDT
300 MM? More like 300 LBS - dang Sarah!!! try www.crossfit.com or something
SP - Monday July 06, 2009 12:07PM EDT
Hopefully the current shortage of Jobs will motivate the current generation of 20 something year olds to actually do some hard work and learn that hard work and sweat built this country. To create Jobs with this fund would be more benificial to the economy than sitting on the side lines investing in the stock market .
Michael - Monday July 06, 2009 03:17PM EDT
Hey you guys who think Sarah looks 'well fed'...looks to me that she's preg - good luck to her!
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Steen - Monday July 06, 2009 10:43AM EDT
Marc and Ben think smart and work hard, and their results speak for themselves. Most recently they grew Opsware into a highly profitable business in under 10 years, and in the process they created many high paying jobs, and developed a valuable service that improves IT support costs. In addition, Marc and Ben also created terrific returns for those of us who consumed less than we earned and put the difference to work in Opsware. It is folks like Marc and Ben who will keep the global economy moving despite the best of our governments to stifle all job growth that is not funded by debt and taxes.