FORTUNE -- Serial entrepreneur and angel investor Chris Dixon is joining venture capital firm Andreessen Horowitz as its seventh general partner, the firm confirmed today.
News of Dixon joining A16Z was first scooped over the weekend by Kara Swisher, leading some to wonder if it meant that the Silicon Valley firm would finally be opening an East Coast office. After all, Dixon is a New York City staple going back to his days as an undergrad at Columbia. Plus, Andreessen Horowitz did agree to sponsor our New York City party next week...
But no dice. Dixon says he's moving West, although he'll maintain his New York apartment. As for why he decided to become a fulltime venture capitalist, Dixon explains:
"It's something I've wrestled with a lot. I think it came down to, when I go to bed at night, am I thinking about doing a new startup or about things like industry trends? At this point, I'm thinking more like a VC, which I also think is reflected in my blog."
Dixon will formally begin in January, and it sounds like he has been speaking with the A16Z folks for a while. One timing complication seemed to be that Dixon's last company (Hunch) was acquired by eBay Inc. (EBAY), where Marc Andreessen is a director. Now that the integration is apparently complete, Dixon was free to move over.
Dixon plans to maintain his 50 or so angel investments, but only will do new deals via A16Z going forward.
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Just because you can raise venture capital quickly doesn't mean you should.
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There has been a lot of talk about how early-stage valuations have risen dramatically over the past few years. Financially, this is probably good for founders and bad for investors. But a side effect of this frothy market is that financings are occurring much faster. It is very common for investors to get introduced to founders MOREAug 1, 2011 7:10 AM ET
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Chris Dixon is co-founder of Hunch, and is an active angel investor. Visit his blog.
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