Venture capital firm Andreessen Horowitz plans to put hundreds of millions of dollars into tech startups over the next few years.
The Menlo Park, California-based company announced November 3 that it had completed fundraising for a $650 million funding round, which will provide capital to firms that need between $50,000 and $50 million. In the past, Andreessen Horowitz has backed a variety of successful companies; it helped social-networking game developer Zynga get off the ground and, for a time, had a stake in Skype.
The purpose of the new funding initiative, company partner Ben Horowitz said, is to support deserving small companies. "This fund will help us continue to support great entrepreneurs in whatever phase they're in as they build quality companies going after the biggest markets," he indicated.
Seeking venture capital funding can make sense for the budding entrepreneur, but there are plenty of other, less glamorous funding sources around. Friends and family are perennially popular among people trying to get a company off the ground; angel investors – wealthy individuals looking to put their money to good use – are also worth investigating.