The man who popularized the Web browser has started a venture capital fund to back the next generation of new technologies.
Marc Andreessen, who co-founded Netscape, is announcing on Monday that he and Ben Horowitz, a longtime business associate, have raised $300 million that they intend to invest in technology companies. The venture capital firm, Andreessen Horowitz, will risk small sums, as little as $50,000, on new ideas.
Then, if they work, they will put in more money, as much as $50 million, for the companies to grow globally. The fund will have its offices on Sand Hill Road, the stretch in Menlo Park, Calif., that is home to top venture firms.
Andreessen Horowitz will be testing a theory of investing, one that has lost favor in recent years in Silicon Valley, that smaller funds making smaller investments in very young companies will yield higher returns.
I think this concept makes complete sense. Take a visionary leader a ton of money, small projects, and higher stakes in new companies sounds like it’s a no brainer to me. Any thoughts?
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