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January 23, 2024
1 min read

Connie Chan Exits Andreessen Horowitz as AI Takes Center Stage

TLDR:

– Connie Chan, a general partner at Andreessen Horowitz, is leaving the firm as the focus of the consumer team shifts towards consumer apps powered by artificial intelligence.
– Anish Acharya, a general partner at the firm, will now lead the consumer team.
– Chan’s departure follows a distancing by US VC firms from Chinese tech investments.
– Chan may raise her own fund, according to a person familiar with the matter.

For years, Andreessen Horowitz has been known for its expertise in consumer marketplaces and consumer apps, particularly those coming from China. However, the firm is now shifting its focus towards consumer apps powered by artificial intelligence (AI), a trend that is becoming more popular across the venture capital industry. In line with this shift, Connie Chan, a general partner at Andreessen Horowitz who previously led the firm’s consumer team and had a reputation for spotting internet trends in China, is leaving the firm. Chan may raise her own fund in the future.

Anish Acharya, a general partner at Andreessen Horowitz who specializes in investing in enterprise-focused and financial technology businesses, will now lead the consumer team. This change in leadership comes as US VC firms distance themselves from investments in Chinese tech, which was once a hotspot for US investors. Chan has reportedly expressed difficulty in working at Andreessen Horowitz recently due to the firm’s decreased interest in anything China-related.

Overall, this article highlights the shifting focus of Andreessen Horowitz’s consumer team towards AI-powered consumer apps, as well as Connie Chan’s departure and the firm’s distancing from Chinese tech investments. These changes reflect broader trends in the venture capital industry and the evolving investment strategies of prominent firms.

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