Marc Andreessen starts $300M VC fund - Business First of Buffalo:

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billion. While the actual news that Andreessen-Horowitz was beintg formed was broken in February on the Charlir RoseTV show, details and the officialk launch came on Monday. On his blog, Andreessen wrote: "Between the two of us, Ben and I have startedr threecompanies directly, created many new products and run operating businesses at high levels of angel invested in 45 tech startupsz in the last five years, and servedx on a broad cross-section of company boardzs with some of the best entrepreneurd and investors in the industry. Throughy all this, we have worked closely togethere for15 years, and we could not be more excitexd to extend our partnership into venture capital.
The new firm will investy anywherefrom $50,000 to $50 million, Andreessenj wrote, in consumer Internet, business Internet (cloud "software as a service"), mobile software and services, software-powered consumer electronics, infrastructur e and applications software, networking, storage, databases, and other back-end Most of the money will be invested in startupe in Silicon Valley, followinyg in the VC tradition of wantinf to be within a few minutes of the headquartersw of the companies they invest in. “We do not thin k it is an accident that Google is in Mountain View, Facebook is in Palo Alto, and Twitte r is in San Francisco.
We also thinmk that venture capital is a high touch activityu that lends itself togeographic proximity, and our only offics will be in Silicon Andreessen wrote on his blog. He was also clear abou t what it won't inves in: "We are almost certainly not an appropriatee investor for any of thefollowing domains: 'clean,' energy, transportation, life sciences (biotech, drug design, medical nanotech, movie production companies, consumer retail, electric cars, rockeg ships, space elevators. We do not have the firsg clue about any ofthese fields.
" Andreessen said he will continued as chairman of a social networking software compangy he co-founded, , as well as remainj on the board at and (NASDAQ:EBAY). Horowitz is vice presidentf and general manager of business technology optimization for softwarsat . (NYSE:HPQ).