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Today: May 15, 2024
January 24, 2024
1 min read

Farewell to Venture Capital Veteran Connie Chan Amidst AI Shift

TLDR:

  • Venture capital veteran Connie Chan is leaving Andreessen Horowitz as the firm shifts its focus to artificial intelligence (AI) and enterprise technology.
  • Chan, who has been with Andreessen Horowitz for over a decade, is well-known for her expertise in innovative consumer tech and has led investments in major companies like Airbnb and Pinterest.

Connie Chan, a prominent partner at Silicon Valley venture capital firm Andreessen Horowitz, is leaving the firm after over a decade. The departure comes as the firm shifts its investment focus more heavily into artificial intelligence (AI) and enterprise technology under newer partners. Chan has been known for her expertise in innovative consumer tech and has led investments into major consumer internet companies like Airbnb and Pinterest. However, Andreessen Horowitz has signaled a move away from traditional consumer tech, appointing general partner Anish Acharya to lead its consumer investing team.

During her time at Andreessen Horowitz, Chan built a reputation as an investor with an eye for emerging consumer tech trends and companies. She invested early in breakout startups across e-commerce, social media, digital media, and mobile. In addition to Airbnb and Pinterest, Chan led deals with companies like Instacart, Teleport, and Clubhouse. She also authored a16z’s annual internet trends, which is closely watched in Silicon Valley for insights into rising technologies. Chan was promoted to general partner in 2018, making her departure a significant loss for the firm in terms of institutional knowledge around innovative consumer tech.

Recent exits from Andreessen Horowitz reflect a waning interest in consumer investments. The firm has been shifting its focus towards AI and enterprise technology, which are seen as more promising areas for growth. The appointment of Anish Acharya, a partner with a background in enterprise and fintech, to lead the consumer investing team further solidifies this shift in strategy. While Andreessen Horowitz’s move towards AI and enterprise tech may align with current market trends, it also means the loss of Connie Chan’s expertise in innovative consumer tech.

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