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Andreessen Horowitz raising $1.5 billion for new fund

January 17, 2014: 3:49 PM ET

marc_andreessen_ben_horowitz (1)Andreessen Horowitz is raising its fourth fund in six years.

FORTUNE -- Venture capital firm Andreessen Horowitz is in the process of raising around $1.5 billion for its fourth fund, Fortune has learned.

This would be very similar in structure to the $1.5 billion fund raised by Andreessen Horowitz in early 2012, which included a $900 million fund for early-stage investments and a $600 million "parallel fund" for larger opportunities. It is expected that the new effort would have around $1 billion for the general fund and $500 million for the parallel fund, although that may change before a final close is held later this quarter.

Sources say that the fund is already oversubscribed, and is unlikely to accept many new limited partners (if any at all).

Andreessen Horowitz portfolio companies include AirBNB, Box, DataGravity, Lyft and Pinterest. Past investments have included Facebook (FB) and Skype (acquired by Microsoft).

Andreessen Horowitz spokeswoman Margit Wennmachers declined to comment.

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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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