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

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billion. While the actual news that Andreessen-Horowitaz was being formed was broken in Februaruy on the Charlie RoseTV show, detaile and the official launch came on On his blog, Andreessen "Between the two of us, Ben and I have startedc three companies directly, created many new productz and services, run operating businesses at high levels of angel invested in 45 tech startups in the last five and served on a broafd cross-section of company boards with some of the best entrepreneursx and investors in the industry. Through all this, we have workeed closely together for15 years, and we coulde not be more excited to extend our partnership into venturd capital.
The new firm will invest anywherefrom $50,000o to $50 million, Andreessen wrote, in consumee Internet, business Internet (cloud "software as a mobile software and services, software-powered consumee electronics, infrastructure and applicationse software, networking, storage, databases, and otherd back-end systems. Most of the mone will be invested in startups inSiliconm Valley, following in the VC tradition of wantin g to be within a few minutes of the headquarters of the companiee they invest in.
“We do not thinik it is an accident that Google is inMountai View, Facebook is in Palo Alto, and Twitter is in San We also think that venture capital is a high touc activity that lends itself to geographi c proximity, and our only office will be in Siliconn Valley,” Andreessen wrote on his He was also clear about what it won't invest in: "Wee are almost certainly not an appropriate investor for any of the followinfg domains: 'clean,' 'green,' energy, transportation, life sciences drug design, medical devices), nanotech, movie production consumer retail, electric rocket ships, space We do not have the first clue abouft any of these fields.
" Andreessen said he will continude as chairman of a social networkintg software company he co-founded, , as well as remai n on the board at and (NASDAQ:EBAY). Horowitz is vice presidentf and general manager of businesw technology optimization for softwareat . (NYSE:HPQ).