Andreessen Horowitz (a16z) has closed just over $15 billion in new capital across six funds, the firm’s largest fundraising to date. The 2025 raise will target artificial intelligence, crypto, infrastructure, and other sectors the firm says are critical to sustaining U.S. technological leadership.
How the funds are allocated
According to a blog post by co-founder Ben Horowitz, the capital will be deployed across multiple strategies:
- $6.75 billion for scaling startups
- $1.7 billion for infrastructure
- $1.7 billion for applications
- $1.176 billion for American Dynamism (defense, housing, supply chains, and other national priorities)
- $700 million for biotech and healthcare
- $3 billion for other venture strategies
The allocations total just over $15 billion.
Crypto and AI remain priorities
a16z characterized AI and crypto as “key architectures of the future,” emphasizing continued investment in both sectors. Since 2018, the firm says it has raised more than $7 billion to invest in crypto protocols and companies, often leading rounds for major blockchain projects.
The firm argued that clear policy is essential for the U.S. to remain competitive in digital assets, warning that regulatory uncertainty could push innovation offshore. Alongside capital deployment, a16z said it will continue policy engagement to support domestic technological leadership.
Market outlook: prediction markets, proofs, and new trust models
a16z expects crypto’s next phase to focus less on launching new blockchains and more on how the technology reshapes markets and infrastructure. The firm anticipates:
- Prediction markets expanding beyond headline elections into granular outcomes, intersecting with AI and becoming part of the news and information ecosystem
- Wider enterprise adoption of cryptographic proofs to verify data and computation
- Greater use of financial incentives and “skin in the game” to build trust in online systems
Why it matters
The raise underscores sustained appetite for U.S.-based venture funding in AI and crypto amid intensifying global competition. With one of Silicon Valley’s most influential firms concentrating capital in these areas, the announcement signals continued institutional interest in technologies that could define the next decade of computing, finance, and national competitiveness.