a16z growth fund expands to $8.5 billion, and raises $1.1 billion AI hardware fund

PANews, September 1 - According to TechCrunch, Andreessen Horowitz (a16z) has expanded its fifth growth fund from $6.75 billion at its launch in January to $8.5 billion, adding $1.75 billion. This comes just days after a16z announced it had raised $1.1 billion for its newly established "Machine Age Fund," which focuses on AI hardware startups, including chips, memory, networking, and storage. The growth fund has been operating for seven years and has invested in more than 100 companies, with current priorities in enterprise and consumer AI technologies, defense technology, robotics, infrastructure software and hardware, and health technology. In January this year, a16z also announced a new $15 billion fund, at which time its assets under management reached $90 billion.