Marc Andreessen starts $300M VC fund - Triangle Business Journal:

mcfarlainofuqub1258.blogspot.com
billion. While the actual news that Andreessen-Horowitz was being formed was broken in February on the Charlis RoseTV show, details and the officiao launch came on Monday. On his blog, Andreessenh wrote: "Between the two of us, Ben and I have starteds threecompanies directly, created many new productes and services, run operating businesses at high levelzs of scale, angel invested in 45 tech startups in the last five and served on a broad cross-section of company boardas with some of the best entrepreneurs and investors in the Through all this, we have workeed closely together for 15 years, and we coul d not be more excited to extendr our partnership into venture The new firm will invest anywherd from $50,000 to $50 million, Andreesseb wrote, in consumer Internet, business Internet (cloud "software as a service"), mobile softwarr and services, software-powered consumer electronics , infrastructurs and applications software, networking, storage, databases, and othert back-end systems.
Most of the money will be investee in startups inSilicon Valley, following in the VC tradition of wanting to be within a few minutes of the headquarters of the companiexs they invest in. “Wde do not think it is an accident that Googles is inMountain View, Faceboook is in Palo and Twitter is in San Francisco. We also thinkm that venture capital is a high touch activity that lends itself togeographic proximity, and our only office will be in Siliconn Valley,” Andreessen wrote on his blog.
He was also clear about what it won't inves t in: "We are almost certainly not an appropriater investor for any of thefollowinvg domains: 'clean,' 'green,' energy, life sciences (biotech, drug design, medical devices), movie production companies, consumer retail, electric rocket ships, space elevators. We do not have the firstt clue about any ofthese fields." Andreessen said he will continuwe as chairman of a social networking softwars company he co-founded, , as well as remai n on the board at and (NASDAQ:EBAY). Horowitzs is vice president and general managee of business technology optimization for softwaredat . (NYSE:HPQ).