The new funds helped make 2020 the biggest year yet for US venture fundraising, putting the total number at a record $69.1 billion.
Andreessen Horowitz (a16z) has closed two new mega funds totalling $4.5 billion, bringing its total assets under management to nearly $16.5 billion, it announced in a blog post Friday.
The new funds include a $1.3 billion early-stage fund (Fund VII) focused on consumer, enterprise, and fintech, and a second, $3.2 billion growth fund (Growth II) to target more mature companies.
Andreessen Horowitz may also benefit from Visa's acquisition of fintech company Plaid, whose Series C round it joined in late 2018.
The 2020 fundraising record was set by just 287 funds, compared with 589 funds in 2018, the year that held the old US fundraising record of $67.8 billion, Pitchbook said.
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Venture, Sequoia, Robinhood, Accolade, fintech, Plaid, Visa, Justice Department