Andreessen Horowitz raises $7.2 billion, a sign that tech startup market may be bouncing back

Andreessen Horowitz raised $7.2 billion for several funds, the bulk of which will go towards late-stage, or growth, investments.

"This marks an important milestone for us," Ben Horowitz, who co-founded the firm with Marc Andreessen in 2009, wrote in a blog post. Horowitz said in the post that $1.25 billion will be dedicated to infrastructure, which includes artificial intelligence investments, while $1 billion will go to app investments, $600 million to games and another $600 million to what the firm callsThe firm had initially aimed to raise $6.9 billion from investors for a new set of funds, including two with an AI focus, Bloomberg. AI investing has been red hot in Silicon Valley and beyond, while the broader market has been in a downturn.

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