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ACapital
ACapital is a venture capital firm founded in 2009 by Marc Andreessen and Ben Horowitz, backing early-stage to growth technology companies across North...
ACapital
ACapital was founded in 2009 by Marc Andreessen and Ben Horowitz, drawing on Andreessen's experience as co-creator of Netscape and Horowitz's as co-founder of Opsware. The firm emerged from the conviction that software was eating the world, a thesis articulated by Andreessen in a 2011 Wall Street Journal essay. The firm invests across multiple stages from seed to growth, with a focus on enterprise software, consumer internet, fintech, digital health, AI/ML, cybersecurity, and infrastructure. ACapital has participated in deals alongside firms like Sequoia Capital and Benchmark, with notable portfolio companies including Facebook (acquired by Meta Platforms), Airbnb, GitHub (acquired by Microsoft), Instacart, and Slack (acquired by Salesforce). The geographic footprint spans North America, with additional activity in Europe and Asia. ACapital's team includes several general partners and over 100 employees across offices in Menlo Park, San Francisco, Boston, and Palo Alto. The firm also operates ACapital University, an educational program for founders, and has a separate philanthropic arm, the Andreessen Horowitz Foundation. In 2023, the firm closed its largest fund to date, raising $7.2B across a suite of new vehicles (per the firm, April 2023). A structural differentiator is ACapital's platform model — it maintains in-house teams for marketing, talent, research, and regulatory affairs that are available to portfolio companies, mimicking services one might find at a large technology company. This approach, combined with a general partner-led culture that emphasizes technical expertise, sets it apart from traditional venture firms that focus primarily on capital allocation.
General information
Firm type
Venture Capital Firm
Year founded
2009
AUM
Over $10B (Altss estimate)
Location
Region
North America
Country
United States
City
Menlo Park
Corporate office
Menlo Park, CA, United States
Additional offices
San Francisco, CA, United States · Boston, MA, United States · Palo Alto, CA, United States
Principals
Marc Andreessen
Co-Founder and General Partner
Ben Horowitz
Co-Founder and General Partner
Sector focus
Frequently asked questions
Who runs investment decisions at ACapital?
Investment decisions are made by general partners Marc Andreessen and Ben Horowitz, along with a team of partners including David George, Andrew Chen, and Jeff Jordan. The firm operates a partnership model where partners focus on sectors and stages they have expertise in (per public record).
How does ACapital source proprietary deal flow?
ACapital sources deal flow through its extensive network of founders and operators, its in-house talent team that helps portfolio companies hire, and the ACapital University educational platform. The firm also produces industry research and essays that attract entrepreneurs (per public record).
Is ACapital structured as a single family office or does it operate more like a venture firm?
ACapital is structured as a venture capital firm, not a family office. It manages capital from institutional investors, endowments, and high-net-worth individuals alongside its own capital. The founders, Marc Andreessen and Ben Horowitz, are significant limited partners in the funds (per public record).
Does ACapital participate in fund commitments or only direct deals?
ACapital primarily makes direct equity investments in technology companies. It also runs dedicated funds for specific strategies, such as the Bio/AI fund focused on artificial intelligence applied to biology. The firm does not typically commit to other venture funds as a limited partner (per public record).
What investment stages does ACapital typically target?
ACapital targets a broad range of stages from seed to growth, with dedicated funds for early-stage (ACapital Early Stage Fund), growth-stage (ACapital Growth Fund), and separate funds for infrastructure, bio/AI, and gaming. This allows the firm to invest in companies from inception to IPO (per the firm).
Which sectors does ACapital explicitly avoid?
ACapital has historically avoided traditional sectors like real estate, energy (outside of tech-enabled energy), and heavily regulated industries such as defense and healthcare services. The firm focuses on technology-enabled companies where software and hardware innovation drive value (per public record).
Does ACapital maintain philanthropic structures, and how are they separated?
Yes, Marc Andreessen and Ben Horowitz run the Andreessen Horowitz Foundation, a separate charitable entity focused on education, health, and economic opportunity. The foundation is distinct from the venture firm and is managed independently by the founders' families (per public record).
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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