According to disclosures reviewed in Fortune by Andreessen Horowitz, the venture capitalist plans to raise its own private equity fund. This is yet another sign that it is pushing into new businesses.
The documents filed with the Securities and Exchange Commission (SEC) at the end March state that the fund is called a16z Perennial Private Equity Fund and that it “invests in the private equity asset classes,” without providing any further details or a date of launch. It’s not clear whether the fund will directly invest in companies or if it will invest in PE funds from third parties.
A16z’s spokeswoman declined comment.
A16z has expanded its scope beyond Silicon Valley, too. It launched a public investing strategy and hired academics and researchers to influence policymaking for the tech and finance industries. A16z is expanding its scope to other areas as well. It has launched a public investment strategy and hired academics and researchers in order to influence policymaking within the tech and financial industries. has launched funds in the past few years.
Andreessen Horowitz disclosed the information through its wealth management arm Perennial. This was established in 2022, with the aim to manage the personal wealth of entrepreneurs and investors with whom it had built relationships. The new private equity fund is likely to cater to these customers based on its name. It’s rare for a firm to run a family office AND a VC firm at the same time, but Iconiq Capital did this for over a decade.
Perennial is , started, by Scott Kupor. Michel Del Buono oversees its investments, who was previously the chief investment officer of multi-family offices Jordan Park Group and UBS. According to the archives of the a16z site, Andreessen has already hired 14 people to manage the money, estate planning and philanthropic activities of its clients. Many have worked in family offices or ultra high-net-worth firms such as UBS or Jordan Park. According to the disclosures, the firm has already attracted 19 clients with $822 million in assets to manage.
Andreessen said that as part of its disclosures, it expects to close two new funds in the “near” future: a real asset fund, which invests primarily in real estate; and a “diversifying investment” fund, focusing on “income-producing strategies” and “diversifying strategies,” as per the filings.
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