Venture capital Menlo Park, United StatesFounded 2009 a16z.com @a16z
18portfolio companies
10categories
13rounds led
About Andreessen Horowitz
Andreessen Horowitz, also known as a16z, is a venture capital firm founded in 2009 by Marc Andreessen and Ben Horowitz. Headquartered in Menlo Park, California, the firm invests across crypto, artificial intelligence, infrastructure, enterprise software, and American dynamism. The firm's $2.2 billion Crypto Fund V closed in May 2026.
Investment strategy and portfolio
The firm backs projects from seed to growth stage. In crypto and decentralized infrastructure, a16z invested in Coinbase's $25 million Series B round in 2013 and a $25 million Series A round for Compound in 2019. It also led a $21.6 million round for NEAR Protocol in 2020, as well as Series A and Series B rounds for OpenSea totaling $123 million in 2021.
Other notable crypto investments include leading a $314 million round for Solana in June 2021, leading a $70 million round for Lido in March 2022, and leading LayerZero's $135 million Series A+ round in March 2022 and $120 million Series B round in April 2023. The firm has backed Layer 1 and Layer 2 ecosystems such as Avalanche, Aztec, Worldcoin, and ZKsync, alongside decentralized exchange Uniswap and self-custodial wallet Phantom.
Recent transactions include leading Eka's $150 million Series A round on October 20, 2026, and participating in ASI's $325 million Series C round on October 21, 2026. The firm manages over $100 billion in assets under management across its various funds.
AI can now find vulnerabilities with internet-scale impact. Greg Brockman on why defenders can hold the advantage, what OpenAI did to secure itself, and its $1B commitment to secure critical infrastructure:
"This [cyber] capability broadly diffused, I think is something that will really empower threat actors in new ways. And I think that defenders need to use this time before that technology's broadly available to secure themselves."
"At OpenAI, we took 25% of our production engineers and said, 'Sorry, all your projects are on hold. You are now defending... You're going to use the models to find all the holes.' And we found a number of serious issues and we fixed them."
"You want to be in this tight loop of new cyber capability drops, you deploy it against your systems, you find the new holes, and ideally, you've managed to automate this... If you can do that at machine speed, I think the defenders will be advantaged in deeply significant ways."
"Not every organization will have the capital required to do it. So we have a billion-dollar commitment to frontline defenders, so to organizations that we all rely on every day in our communities, to access our models to secure themselves."
"I've never met a CISO who felt that they were appropriately resourced... Now is a moment where we actually have a real both motivation to do it and a real ability to do it."
"How would you feel if the only way your kid could learn about AI is to go to work for one of two companies? Like that, as a parent, I think would probably drive you pretty crazy."
"Whereas in a world of open source, every kid can learn how this stuff works."
"Without open source, AI inevitably centralizes down to one or two companies, or maybe just flat out the government."
"Close your eyes and picture the concept of government sushi. And then keep your eyes closed and picture government AI. How do you feel about that? Open source is the guarantor that that's not the future."
Chris Dixon on the deal that built the internet, why AI is breaking it, and the "great reconfiguration" that comes next:
"I call it the internet's covenant, which is sort of a deal between the distribution side of the internet, Google, Facebook, and so forth, and the content side, news sites, travel sites, whatever it might be."
"The websites that make money on ads and conversions and other things can no longer do that. You see the early signs of this, like Stack Overflow and some other websites where the traffic dropped precipitously when you had sort of AI replacements."
"Many of these transactions will still happen. They just won't happen in the way they were happening... There's a bunch of businesses that are built on the human attention economy that will have challenges."
"On the entrepreneur side, there's a chance to rethink these things from first principles and say, 'Okay, what does a better internet look like?'"
"I think this is gonna happen over the next, let's call it decade, you're gonna have this kinda great reconfiguration of the internet and how the economics work, how the attention flows, how knowledge is shared, how people produce things together, collaborate."
Chris Dixon on a16z Frontier's investing philosophy, and why being too early is better than being too late:
"We believe that basically every good idea that we've ever seen that involved technology has eventually worked or we believe will work, if it hasn't worked yet."
"Almost everything that ended up working had a precursor that didn't work and maybe was 10 years too early. And that's the hardest thing in technology is to predict the timing of these things."
"There's the technology, there's the culture, there's the business environment, there's the political environment. There's so many factors that go into these things and having it all line up."
"Specifically in the Frontier Fund, we want to err on the side of being too early."
@cdixon
Not an offer or solicitation. None of the information herein should be taken as investment advice; Some of the companies mentioned are portfolio companies of a16z. Please see https://t.co/nX2FtaLE06 for more information. A list of investments made by a16z is available at https://t.co/A9eTFq6Xbx.
