Andreessen Horowitz celebrates its first birthday with a number of new hires, including its third general partner – John O’Farrell – who joins founding general partners Marc Andreessen and Ben Horowitz. O’Farrell was most recently a vice president at Silver Spring Networks.
We covered the launch of Andreessen Horowitz a year ago here.
The firm now has 24 investments, says Andreessen. In its first year they received 1,048 qualified deal referrals from 324 individuals. $150 million of the $300 million fund has been invested, and other $60 million has been earmarked for follow on investments.
That means they are nearly out of cash, and Andreessen says they will likely raise their second fund later this year. He wouldn’t comment on the potential size of that second fund, saying the decision hasn’t been made yet.
Andreessen Horowitz has certainly made a splash in its first year. They focus on what they call “computer science” – which includes both consumer tech and IT startups – but shy away from clean tech, bio tech and other types of deals. They make investments ranging from very early angel rounds, $50,000 or so, on up to $50 million in later stage deals. And Andreessen says they will likely make even larger investments in the future.
We’re tracking most of their investments on Crunchbase. Some, says Andreessen, are still confidential and haven’t been announced yet.