Andreessen launches venture capital firm

July 7, 2009 | 14:38

Tags: #credit-crunch #marc-andreessen #netscape #netscape-navigator #venture-capital

Companies: #andreessenhorowitz

Entrepreneur Marc Andreessen – along with business partner Ben Horowitz – has launched a new tech venture capital firm with an impressive bankroll of $300 million in an attempt to kick-start economic recovery.

According to an article over on Wired, Andreessen – perhaps best known for being a co-founder of the Netscape Communications, the company behind Netscape Navigator which would later become the foundation for popular open-source web browser Firefox – is looking to invest in “anything that involves chips and computers,” although draws the line at anything he and his business partner don't understand.

With this much capital at stake, you can bet that every startup in America is after a piece of the pie – but there's a barrier to entry: in order to get serious consideration, you must arrive on a personal recommendation from someone known and respected by Andreessen or Horowitz. That said, the pair have stated that they would “probably read” any e-mail you might care to send their way detailing your vision of the next big thing.

The company – dubbed, imaginatively, Andreessen/Horowitz – has promised to divvy up the venture fund at between $50,000 to $50 million per start up, depending on requirements and the realism of the business plan presented.

It's certainly a brave move, coming as it does in the middle of a major economic slowdown – but could well put Andreessen on the road to his second fortune, as startups may well be willing to cut a better deal for the venture capital company in these lean times in order to ensure their survival.

One thing's for sure – it's highly unlikely Andreessen will be investing in any web browsers.

Do you have the perfect elevator pitch that you think could part the pair from their venture capital fund, or are you just pleased to see that people are still willing to plough some money into the tech economy in these troubled times? Share your thoughts – and big ideas – over in the forums.
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