Summary:

Netscape co-founder Marc Andreessen and ex-Opsware executive Ben Horowitz have closed their new VC fund, Andreessen Horowitz Fund I, L.P, at…

Marc Andreessen
photo: Flickr/mathoov

Netscape co-founder Marc Andreessen and ex-Opsware executive Ben Horowitz have closed their new VC fund, Andreessen Horowitz Fund I, L.P, at $241.5 million, according to a new SEC filing today. The amount was raised from a total of 44 investors. Earlier Kara reported that the fund might exceed the stated goal of $250 million and go up to as much as $300 million. She also mentioned that several major institutional investors had invested large chunks of up to $20 million or more, while a spate of Silicon Valley luminaries had put in amounts of $1 million or less. That said, it seems the two Internet vets have decided to keep it within the previous range, though this doesn’t preclude them from adding some more money to the fund in the future.

Both Andreessen and Horowitz have been doing angel investments for a while now, and have invested in the likes of Facebook, Digg, Twitter, LinkedIn, and Qik. The new fund puts a structure around these investments; that they could raise this amount in a matter of 3-4 months — after announcing it on the Charlie Rose show in February earlier this year — should be a good sign for the battered VC industry. Andreessen said in the interview that the two would continue to focus on small investments in the $200K to $1 million range, which means this fund could last them through a prolonged downturn, if need be. We’ve contacted Marc and Ben for comment.

Meanwhile, for a different take on the Andreessen “myth”, check this story from SiliconBeat from last week, “The Curious Case Of Marc Andreessen.”

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