TLDR:
- Andreessen Horowitz plans to launch a private equity fund called a16z Perennial Private Equity Fund.
- The fund will cater to managing personal wealth and philanthropy for families of entrepreneurs and investors.
Summary:
Andreessen Horowitz, a prominent venture capital firm, is venturing into the private equity space with the launch of a new fund named a16z Perennial Private Equity Fund. The documents filed with the Securities and Exchange Commission reveal that the fund will invest in the private equity asset class, although specific details such as launch date and investment strategies remain undisclosed.
This move signifies a significant shift for Andreessen Horowitz, traditionally focused on early-stage venture capital. The creation of the new private equity fund, as part of its wealth management arm Perennial, suggests a strategic expansion catering to managing personal wealth and philanthropy for families connected to the firm. Noteworthy aspects of the fund include its connection to a family office division and potentially serving high-net-worth clients.
Additionally, the firm anticipates a first close of two new funds in the near future, including a real assets fund and a diversifying investments fund, further highlighting its diversification efforts. By tapping into the private equity market, Andreessen Horowitz is reinforcing its position as a multifaceted player in the investment landscape.
