Enterprise capital agency Andreessen Horowitz is looking for to boost about $20 billion in what would be the largest fund in its historical past, to capitalize on world traders’ curiosity in backing U.S. synthetic intelligence corporations, sources advised Reuters.
The tech funding agency, identified informally as a16z, has advised restricted companions that the fund might be devoted to growth-stage investments in AI corporations and draw upon world traders eager on investing in American corporations, the sources mentioned.
Why it issues
Even by the requirements of a agency identified for elevating a few of Silicon Valley’s largest funding autos, the brand new fund would characterize a colossal step up in scale. It could check LPs’ curiosity in enterprise capital amid world financial turmoil and proceed the talk over how scalable this asset class is whereas sustaining interesting returns. If efficiently raised, the brand new megafund can be surpassed solely by SoftBank’s 9984.T two Imaginative and prescient funds, a large experiment by deploying unprecedented quantities of capital into the tech sector, which has yielded combined outcomes.
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