The latest venture capital offering from Andreesen Horowitz is an evergreen fund managed by the firm’s newly established advisory group aimed at high-net-worth individuals called a16z Perennial Management.
The new fund, a16z Perennial Venture Capital Fund Master Fund LP, filed registration documentation with the Securities and Exchange Commission earlier this month. The fund will be a perpetual life, open-ended offering.
Founded in 2009 by Marc Andreessen and Ben Horowitz, a16z backs technology entrepreneurs across the capital formation stage from seed to venture to late-stage companies. Biotech and healthcare companies, consumer, crypto, enterprise, fintech, games and companies “building toward American dynamism” are in the $35 billion venture capital firm’s purview.
The launch follows last year’s ambitious fundraise that hit $9 billion in January 2022. Those new funds, which included a crypto fund that closed at $4.5 billion in May 2022, were focused on a ‘technology-enabled future that encompasses healthcare innovation.’ This has been key to the Menlo Park, Calif.-based firm’s ethos over the years.
The new management group Perennial Management has $105 million in assets as of May 27, 2023, according to regulatory filings. Those same filings mention plans to offer other funds including: a16z Perennial Real Assets; a16z Perennial Private Equity and a16z Perennial Diversifying Investments.
