VC firm Andreessen Horowitz (AH) has raised a USD1.5bn third fund, larger than its previous two funds combined, as the firm moves towards making longer-term investments. AH says that it is planning to invest the fund over a two- to three-year period, rather than the 13 months it took to invest its last fund. The firm will still focus on early-stage tech investments in the US and says it may reduce the number of late-stage pre-IPO funding rounds that it participates in. AH has defended its investment tactics, after coming in for criticism last year.
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