Feeds

Andreessen Horowitz raises $US1.5b

Crisis? What crisis?

Bridging the IT gap between rising business demands and ageing tools

High profile VC firm Andreessen Horowitz has secured $US1.5 billion in new funding. The new cash brings the total funding under its management to $US2.7 billion.

The company has been boasting that the serious chunk of change took a mere three weeks to raise the funding, and another six weeks to complete the formalities.

The in-trend VC firm has had its hand in investing, in various stages, a bunch of hot young digital darlings about town including Facebook, Airbnb, Foursquare, Pinterest, Skype, Twitter and Zynga.

In a detailed blog post, Ben Horowitz said the group's Midas touch hinges on building an exceptional and broad network of people from financiers to engineers, and training up entrpreneuers into "the best possible CEOs possible".

“We are uniquely positioned to help the greatest technology entrepreneurs in the world build the best technology companies in the world, and that’s just what we’re going to do,” he wrote.

The well-connected social networkers claim that in 2011, they hosted over 600 portfolio presentations to corporate customers and partners at their office in Menlo Park. These presentations resulted in more than 3,000 introductions between portfolio companies and prospective Fortune 500/Global 2000 senior executives.

“We’ve built relationships with over 4,000 engineers, designers and product managers, and we’ve made more than 1,300 introductions to our portfolio companies, resulting in 130 hires within the portfolio. We added over 550 executives to our network in 2011 and made more than 300 executive introductions to our portfolio companies. We’ve had nearly 400 interactions with media on behalf of our portfolio companies,” Horowitz adds. ®

The Power of One Brief: Top reasons to choose HP BladeSystem

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple ran off to IBM
But never fear fanbois, you're still lapping up iPhones, Macs
Nadella: Apps must run on ALL WINDOWS – PCs, slabs and mobes
Phone egg, meet desktop chicken - your mother
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.