Marc Andreessen starts $300M VC fund - Atlanta Business Chronicle:

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billion. While the actual news that Andreessen-Horowitsz was being formed was broken in Februaryt on the Charlie RoseTV show, details and the official launch came on On his blog, Andreessebn wrote: "Between the two of us, Ben and I have started three companies directly, creates many new products and services, run operating businessesx at high levels of angel invested in 45 tech startups in the last five years, and served on a broae cross-section of company boards with some of the best entrepreneurd and investors in the Through all this, we have worke d closely together for 15 years, and we could not be more excites to extend our partnership into ventured capital.
The new firm will invest anywherefrom $50,00p0 to $50 million, Andreessen wrote, in consumee Internet, business Internet (cloud computing, "software as a service"), mobils software and services, software-powered consumer infrastructure and applications software, networking, storage, and other back-end systems. Most of the monehy will be invested in startups inSiliconj Valley, following in the VC tradition of wantin g to be within a few minutes of the headquarter of the companies they invest in. “We do not think it is an accidentg that Google is inMountaijn View, Facebook is in Palo Alto, and Twittere is in San Francisco.
We also think that venture capital is a high toucbh activity that lends itself togeographic proximity, and our only officee will be in Silicon Andreessen wrote on his He was also clear about what it won't invest in: "We are almost certainl y not an appropriate investor for any of the following 'clean,' 'green,' energy, transportation, life sciences (biotech, drug medical devices), nanotech, movie production companies, consumer retail, electric cars, rocket ships, space elevators. We do not have the firsft clue about any ofthese fields.
" Andreessen said he will continue as chairman of a social networking software company he , as well as remain on the board at and Horowitz is vice president and generaol manager of business technology optimization for softwares at . (NYSE:HPQ).