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

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billion. While the actual news that Andreessen-Horowit z was being formed was broken in Februaryh on the Charlie Rose TV details and the official launch cameon Monday. On his Andreessen wrote: "Between the two of us, Ben and I have startes three companies directly, created many new productss and services, run operating businesses at high levelsof scale, angelo invested in 45 tech startups in the last five and served on a broa cross-section of company boardas with some of the best entrepreneurs and investors in the Through all this, we have worke closely together for 15 and we could not be more excited to extend our partnership into venturew capital.
The new firm will invest anywherefrom $50,00p0 to $50 million, Andreessen in consumer Internet, business Internet (cloud "software as a service"), mobile softwarse and services, software-powered consumer electronics, infrastructure and applicationd software, networking, storage, databases, and other back-end systems. Most of the moneyg will be invested in startups in Silicon following in the VC tradition of wanting to be withi a few minutes of the headquartersd of the companies theyinvest in. “We do not think it is an accident that Googls is inMountain View, Facebook is in Palo Alto, and Twitted is in San Francisco.
We also think that ventur e capital is a high touch activity that lendd itself togeographic proximity, and our only office will be in Silicon Valley,” Andreessen wrote on his blog. He was also clea about what it won't invest in: "Wee are almost certainly not an appropriatw investor for any of thefollowing domains: 'clean,' 'green,' energy, transportation, life scienced (biotech, drug design, medical nanotech, movie production consumer retail, electric cars, rocket ships, space elevators. We do not have the firsg clue about any ofthese fields.
" Andreessenj said he will continue as chairman of a socia l networking software company he co-founded, , as well as remain on the boards at and (NASDAQ:EBAY). Horowitz is vice president and general managef of business technology optimization for softwarerat . (NYSE:HPQ).