Startups backed by Andreessen Horowitz, other VC firms got PPP loans - Business Insider

Marc Andreessen, cofounder of Andreessen Horowitz, which saw 58 of its portfolio companies get loans under the federal government's Paycheck Protection Program.This story is available exclusively on Business Insider Prime.Startups backed by some of the most well-heeled venture firms received loans under the Paycheck Protection Program, a federal initiative designed to keep small businesses afloat during the coronavirus-related shut downs, according to a new analysis by CB Insights.

In general, venture firms that have greater numbers of portfolio companies had higher numbers of them participating in the PPP loan program, according to CB Insights.Startups backed by some of the most well-financed venture firms participated in the federal government's coronavirus-related small-business loan program, according to an analysis of loan data by CB Insights.

Representatives of NEA, Andreessen Horowitz, and Alumni Ventures did not respond to emails seeking comment.The rules governing the PPP were somewhat murky and the SBA modified its guidance several times, but there was nothing in the rules that prohibited venture-backed startups from taking part in the program, said Kathleen McGee, counsel in the Tech Group at the Lowenstein Sandler law firm. Such companies simply had to assess whether they needed the funds and document that need.

means nothing unless you do the math to see if it's disproportionate

Would the death penalty be too severe? Make the c suite executives and board members work in retail for one year.

Forgivable loans vs. taking more venture $/dilution. Tough call...

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