Overview
- The new capital is split across funds: $6.75 billion for growth, $1.7 billion each for apps and infrastructure, $1.176 billion for American Dynamism, $700 million for bio and health, and about $3 billion for other venture strategies.
- The haul is the firm’s largest to date, accounted for more than 18% of U.S. venture dollars in 2025, and lifts assets under management to over $90 billion.
- Co-founder Ben Horowitz cast the strategy as ensuring the U.S. “wins the next 100 years of technology,” singling out AI and crypto as foundational architectures.
- American Dynamism reflects a heavier tilt toward defense and industrial capacity, with portfolio ties to Pentagon-aligned companies such as Anduril, Shield AI, Saronic Technologies, and Castelion.
- The firm did not detail its limited partners; prior disclosures and reporting point to backers like CalPERS and Saudi-linked Sanabil, while a16z’s growing Washington presence and political connections draw added scrutiny.