TLDR:
Andreessen Horowitz, one of the largest venture capital firms, is opening its first office in Washington, D.C. They are subleasing 12,000 square feet near the White House and have a focus on investing in technology companies that work with the federal government or Department of Defense. The firm recently led a funding round for a telecommunications startup based in Arlington, Virginia.
One of the largest venture capital firms, Andreessen Horowitz, is opening its first office in Washington, D.C. They are subleasing 12,000 square feet from FedEx near the White House. This move marks the firm’s venture into the nation’s capital, where they see opportunities to support technology companies working with the federal government or Department of Defense. The firm recently led a $61 million funding round for Cape, a telecommunications startup based in Arlington, Virginia.
Andreessen Horowitz, also known as a16z, typically backs early-stage companies in the technology industry. With $42 billion in assets under management, the firm has offices in major markets across the United States, such as New York, Miami, and San Francisco. The firm’s move to D.C. follows its interest in investing in space, defense, robotics, and manufacturing firms through the American Dynamism plan. Part of the $7.2 billion fund that closed last month is allocated towards this initiative.
While a sublease from FedEx doesn’t significantly impact D.C.’s office vacancy rate, which stood at a record high of 19.4 percent at the end of the first quarter, a16z’s presence in the capital signifies its commitment to supporting technology innovation in collaboration with the federal government and Department of Defense.
