Andreessen Horowitz, the influential venture firm, has raised over $15 billion in its latest funding round. This impressive sum accounts for more than 18% of all U.S. venture capital allocated in 2025, according to co-founder Ben Horowitz. The new capital increases the firm’s total assets under management to a staggering $90 billion, positioning it alongside Sequoia Capital as one of the largest venture firms globally. Notably, Andreessen Horowitz has developed strong ties with sovereign wealth funds, including Saudi Arabia’s Public Investment Fund.
Now a truly global operation, Andreessen Horowitz has hundreds of employees across five offices—three in California, plus New York and Washington, D.C. In December, the firm opened its first Asia office in Seoul, focusing on its growing crypto practice. This expansion marks its broadening international presence.
The source of the firm’s capital remains largely private, though a few details have come to light. In 2023, Andreessen Horowitz received a $400 million investment from the California Public Employees’ Retirement System (CalPERS), the first time the firm accepted funding from a California pension fund. The firm’s historical preference for opacity in disclosing investors has drawn attention, though Saudi Arabia’s Sanabil Investments is known to be among its backers, signaling a growing link between the firm and the Middle East.
Andreessen Horowitz’s connection with Saudi Arabia has been increasingly visible. In 2023, Ben Horowitz and Marc Andreessen appeared onstage with WeWork co-founder Adam Neumann to discuss their $350 million investment in Neumann’s new real estate venture, Flow, during a conference backed by Saudi Arabia’s sovereign wealth funds. Horowitz praised Saudi Arabia as a “startup country,” while giving its ruler the title of “founder” in admiration.
Additionally, Andreessen has become more involved in U.S. politics, particularly after the 2024 presidential election. He has spent considerable time at Mar-a-Lago, shaping policy discussions on tech, business, and economics. He also became an “unpaid intern” at Elon Musk’s Department of Government Efficiency, vetting candidates for key roles in the Trump administration, including tech, defense, and intelligence positions. Andreessen Horowitz’s first employee, Scott Kupor, was appointed director of the U.S. Office of Personnel Management in 2025, further cementing the firm’s political influence.
A significant portion of Andreessen Horowitz’s strategy focuses on what it terms “American Dynamism.” This practice invests in sectors like defense, aerospace, housing, education, and manufacturing. The firm’s portfolio includes companies that align with U.S. defense priorities, such as Anduril, which specializes in autonomous defense systems, and Shield AI, which develops military drones. The firm is betting that the U.S. needs to reindustrialize and reshore critical manufacturing, especially in areas like missile production, where current supplies would not meet demands in a potential conflict with China.
AI also remains a high-priority area for Andreessen Horowitz. The firm has spread its investments across all levels of the AI stack, from infrastructure companies like Databricks to foundation models like OpenAI, Mistral AI, and xAI. It also holds stakes in applications such as Character.AI. By investing at every level of the AI ecosystem, Andreessen Horowitz aims to position itself as a leader in this rapidly evolving field.
The firm has had its share of successes. A $25 million investment in Coinbase led to an $86 billion valuation at the company’s 2021 IPO. Other major wins include Airbnb, valued over $100 billion, Slack, acquired for $27.7 billion, and GitHub, bought by Microsoft for $7.5 billion. The firm’s portfolio also includes 115 unicorns, 35 IPOs, and 241 acquisitions, according to market intelligence firm Tracxn. However, its investments in cryptocurrency remain less transparent, and the returns from those ventures are not fully disclosed.
In a recent blog post, Ben Horowitz emphasized the firm’s responsibility in shaping the future of American technology, claiming that the country’s tech leadership depends, in part, on firms like Andreessen Horowitz. His statement is likely to provoke strong reactions from competitors, some of which have been in the industry for much longer. Andreessen Horowitz’s overarching mission is to ensure the U.S. remains a global leader in technology for the next century.
Andreessen Horowitz’s ability to raise $15 billion to fund its vision of U.S. technological dominance shows just how effective the firm has been at securing capital. With ties to Saudi Arabia, Mar-a-Lago, and the Pentagon, the firm is positioned at the intersection of global finance, politics, and technology. It’s a strategy that clearly resonates with investors and ensures Andreessen Horowitz’s continued influence in the world of venture capital.