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Venture Capital firm Andresen Horovitz wants to raise around $ 20 billion – which will be the largest fund in its history – to take advantage of the interest of global investors in supporting American Artificial Intelligence companies.
The tech investment firm has told some partners that the fund will be dedicated to development-phase investment in AI companies and will attract global investors seeking global investors seeking investors in American companies.
It comes amidst a broad tariff. US President Donald Trump has imposed many global trading partners, with one of his goals to attract companies to manufacture goods in the US.
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Andresen Horovitz’s Ben Horovitz speaks at the WSJETEC Live Conference at Laguna Beach, California on October 22, 2019. (Reuters / Reuters Photos)
To raise enough funds, Andresen Horovitz is making its pitch worldwide, the Reuters said.
The company’s founders, venture capitalists Mark Andresen and Ben Horovitz announced last year that they would traditionally support Trump despite supporting Democrat candidates.
If successful in raising money, the new megafond will be crossed only from two vision funds of Softbank. SoftBank Vision Fund 1, launched in 2017, was a record-breaking $ 100 billion fund, while its successor, vision fund 2, manage around $ 56 billion from Softbank’s balance sheet.
Ben Horovitz staged the WIRED25 Summit 2019 at the Commonwealth Club on November 8, 2019 on stage in San Francisco, California in the day 1. (Philip Faron / Getty Image for Wired / Getty Image)
The largest fund of Andresen Horovitz so far is a growth-stage fund of $ 5 billion which was raised as part of a $ 9 billion fund declared in 2022.
According to Reuters, the new fund is still in its early stages and may take several months to close.
The outlet reported that a large part of the capital will be kept separate for investment in AI companies in the firm’s portfolio. The company was an early backer in some notable AI companies, including XE of Databricks and Elon Musk.
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Venture capitalist Mark Andresen speaks on Tuesday, September 13, 2016 at the Techchchan Distribution Conference in San Francisco, California. (Paul Chin / San Francisco Chronicle Getty Image / Getty Image)
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Andresen Horovitz has already been aggressive in supporting several companies in the region, AI model developer startups as a prominent investor to participate in the Arab-dollar funding rounds, including XAI, Safe Superintendent and France-based Mistral. The firm has also bought Openai shares through a tender proposal in the secondary transaction market.
Reuters contributed to this report.
