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No 'Summers Rally' for Larry's VC firm

September 16, 2013: 4:12 PM ET

Larry Summers is a special advisor to Andreessen Horowitz. So how did it fare today?larry-summers-620xa

FORTUNE -- There has been lots of talk today about the Summers Rally, with the stock markets spiking on word that former U.S. Treasury Secretary Larry Summers has removed himself from consideration to be the next Federal Reserve chairman.

Things have cooled off  a bit this afternoon, but the Dow still ended up 118 points.

So I was curious to see how Summers' decision affected Andreessen Horowitz, the Silicon Valley venture capital firm where Summers serves as a special advisor.

But it seems that Andreessen Horowitz only holds stock in a single public company: Facebook (FB). It also has backed other companies that later went public -- such as Fusion-io (FIO) and Zynga (ZNGA) -- but has since exited those investments.

So how did Facebook do?


That's a notable drop on this sort of day, particularly given that the broader NASDAQ was only off 0.12%.

So no Summers Rally for the one stock owned by the venture capital firm that Summers advises. On the other hand, Andreessen Horowitz doesn't need to find a new man in Washington...

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Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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