Andreessen Horowitz Founders
Andreessen Horowitz announced Friday a $15 billion fundraising across multiple investment vehicles, marking the Silicon Valley venture firm's largest capital raise to date and emphasizing explicit focus on artificial intelligence startups advancing American strategic interests. The announcement comes as North American startup funding jumped 46 percent year-over-year to $280 billion in 2025, with AI companies capturing the majority of venture capital deployed.
The new funds include $6.75 billion for growth-stage investments, $1.176 billion for the firm's American Dynamism practice backing defense and security-related startups, $1.7 billion each for Apps and Infrastructure funds, $700 million for Bio & Health investments, and $3 billion allocated to other venture strategies. The fundraising positions a16z to maintain aggressive deployment pace across AI's critical infrastructure layers from foundation models to enterprise applications.
Co-founder and general partner Ben Horowitz emphasized domestic focus in announcing the raise, highlighting the firm's commitment to investing in companies that support U.S. national security and economic competitiveness against China and other adversaries. The American Dynamism allocation nearly doubled from previous funds, signaling intensified venture interest in defense technology as Pentagon modernization priorities create opportunities for AI-powered military applications.
The firm claims it captured 18 percent of all venture capital dollars invested in the United States during 2025, demonstrating outsized influence in directing startup funding toward preferred sectors and strategies. A16z participated in at least 165 post-seed funding rounds last year including investments in coding assistant maker Anysphere, legal tech unicorn Harvey, predictions market Kalshi, AI lab Safe Superintelligence, publishing platform Substack, surveillance startup Flock Safety, and voice AI company ElevenLabs.
The massive raise contrasts sharply with broader venture capital fundraising trends. Industry data from the National Venture Capital Association and PitchBook shows 2025 marked the slowest year for new venture fund formation since 2017, with many firms struggling to raise capital amid limited exit opportunities and public market volatility. A16z's success signals continued concentration of venture capital among elite firms with demonstrated AI investment track records.
The timing capitalizes on AI's recession-proof investment status. Separate KPMG research shows 67 percent of enterprises commit to maintaining AI spending even during economic downturns, viewing the technology as strategic infrastructure rather than discretionary innovation. This enterprise conviction translates to sustained startup valuations and venture deployment despite broader economic uncertainty.
The American Dynamism fund targets startups addressing national security priorities including autonomous systems, cybersecurity, critical infrastructure, advanced manufacturing, and supply chain resilience. Recent portfolio companies span drone defense systems, satellite communications, quantum computing applications, and AI-powered intelligence analysis—sectors increasingly viewed as competitive battlegrounds between democratic and authoritarian technology ecosystems.
For AI founders evaluating venture partners, a16z's fundraising demonstrates sustained capital availability for companies aligned with domestic strategic priorities. The firm's thesis suggests startups positioning technology as advancing American interests gain funding advantages over globally-focused competitors, particularly in dual-use applications with both commercial and defense applications.
The raise also reflects venture capital's geographic consolidation. Despite remote work enabling distributed teams, capital concentrates in established hubs where firms maintain networks, deal flow, and pattern recognition advantages. A16z's Menlo Park headquarters positions it at Silicon Valley's center as AI talent, technical infrastructure, and regulatory engagement cluster in the Bay Area ecosystem.
However, the explicit American focus may limit international expansion opportunities for portfolio companies facing geopolitical complexity in serving Chinese, Russian, or other adversarial markets increasingly segmented from Western technology ecosystems.
