Marc Andreessen starts $300M VC fund - The Business Review (Albany):

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billion. While the actuak news that Andreessen-Horowitz was being formed was broken in Februarh on the Charlie RoseTV show, detailse and the official launch came on On his blog, Andreessen wrote: "Betweem the two of us, Ben and I have startefd three companies directly, created many new products and services, run operatingt businesses at high levels of scale, angel investefd in 45 tech startups in the last five years, and served on a broad cross-section of companyh boards with some of the best entrepreneurs and investor s in the industry. Through all this, we have worked closel together for15 years, and we couldx not be more excited to extend our partnershipl into venture capital.
The new firm will invest anywherfrom $50,000 to $50 million, Andreessenb wrote, in consumer Internet, business Internet (cloud computing, "software as a service"), mobiler software and services, software-powered consumer electronics, infrastructure and applications software, networking, storage, and other back-end systems. Most of the money will be investecd in startups inSilicon Valley, following in the VC traditio n of wanting to be within a few minutes of the headquarteras of the companies they invest in.
“We do not think it is an accident that Google is inMountain View, Facebook is in Palo Alto, and Twitter is in San We also think that ventur e capital is a high touch activitu that lends itself to geographic proximity, and our only officed will be in Silico n Valley,” Andreessen wrote on his He was also clear about what it won'f invest in: "We are almost certainlt not an appropriate investor for any of the followingh domains: 'clean,' 'green,' energy, transportation, life sciencez (biotech, drug design, medical devices), movie production companies, consumer electric cars, rocket ships, space elevators.
We do not have the first clue about any of these Andreessen said he will continu e as chairman of a social networking softwarw companyhe co-founded, , as well as remain on the board at and Horowitz is vice president and general manager of businesd technology optimization for software at . (NYSE:HPQ).