At Andreessen Horowitz, we just raised over $15B. With these new funds including American Dynamism ($1.176B), Apps ($1.7B), Bio + Health ($700M), Infrastructure ($1.7B), Growth ($6.75B), and other venture strategies ($3B), we raised over 18% of all venture capital dollars allocated in the United States in 2025. Why did we raise the money and how do we plan to invest it? Read more from Ben Horowitz: