Andreessen Horowitz Is Planning to Raise Two AI-Focused Funds

Silicon Valley venture capital giant Andreessen Horowitz is aiming to raise $6.9 billion from investors for a new collection of funds, including two focused on artificial intelligence, according to a person familiar with the matter.

The firm is raising the money for a master fund, with half the amount going to the firm’s fourth growth fund, said the person, who asked not to be identified discussing private information. Two years ago, it raised $5 billion for its growth vehicle.

The remaining half of the new fundraise will go toward two dedicated artificial intelligence funds, a gaming fund and a fund to back startups in ...