9AT: ANDREESSEN HOROWITZ

other names

ANDREESSEN HOROWITZ
AH CAPITAL MANAGEMENT, L.L.C.
HOROWITZ, ANDREESSEN
A16Z CAPITAL MANAGEMENT, L.L.C.

Adviser Profile

As of Date	03/30/2026
ADV Location	MENLO PARK, CA, United States
Adviser Type - Large advisory firm
Number of Employees	738 38%
of those in investment advisory functions	88 -12%
Registration	SEC, Approved, 04/11/2019
Other registrations (2)	SEC, ERA - Withdrawn, 03/11/2019 California, ERA - Withdrawn, 03/11/2019

AUM^*	106,476,153,956 90%
of that, discretionary	106,476,153,956 90%
Private Fund GAV^*	115,586,870,258 55%
Avg Account Size	894,757,596 39%
SMA’s	No
Private Funds	151 60
Contact Info	(65 xxxxxxx
Websites

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Fund Type	Count	GAV
Fund TypePrivate Equity Fund	Count16	GAV$14,630,812,886
Fund TypeVenture Capital Fund	Count131	GAV$100,956,057,372
Fund TypeOther Private Fund	Count4	GAV$

Adviser	Hedge Fund	Liquidity Fund	Private Equity Fund	Real Estate Fund	Securitized Asset Fund	Venture Capital Fund	Other Fund	Total Private Fund GAV	AUM	#Funds
Adviser POLARIS GROWTH MANAGEMENT, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund1.8b	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund4.0b	Other Fund-	Total Private Fund GAV9.9b	AUM4.2b	#Funds22
Adviser SUMMIT PEAK INVESTMENTS, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund13.3m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund1.4b	Other Fund-	Total Private Fund GAV2.8b	AUM1.1b	#Funds42
Adviser ALPACA	Hedge Fund-	Liquidity Fund-	Private Equity Fund5.9m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund131.3m	Other Fund-	Total Private Fund GAV268.4m	AUM150.3m	#Funds17
Adviser FLYOVER CAPITAL PARTNERS, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund24.8m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund122.8m	Other Fund-	Total Private Fund GAV270.5m	AUM147.6m	#Funds7
Adviser INSIGNIA VENTURES PARTNERS PTE. LTD.	Hedge Fund-	Liquidity Fund-	Private Equity Fund41.6m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund1.1b	Other Fund-	Total Private Fund GAV2.3b	AUM-	#Funds7
Adviser IDG CAPITAL FUND MANAGEMENT LTD.	Hedge Fund-	Liquidity Fund-	Private Equity Fund1.7b	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund10.2b	Other Fund-	Total Private Fund GAV22.1b	AUM-	#Funds21
Adviser RED & BLUE VENTURES	Hedge Fund-	Liquidity Fund-	Private Equity Fund382.1k	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund42.1m	Other Fund-	Total Private Fund GAV84.6m	AUM-	#Funds8
Adviser CAMBIUM CAPITAL MANAGEMENT LP	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund163.0m	Other Fund-	Total Private Fund GAV326.0m	AUM-	#Funds13
Adviser INSPIRATION VENTURE PARTNERS	Hedge Fund-	Liquidity Fund-	Private Equity Fund9.8m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund137.0m	Other Fund-	Total Private Fund GAV283.8m	AUM-	#Funds6
Adviser CORNER CAPITAL MANAGEMENT, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund204.1m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund585.3m	Other Fund134.9m	Total Private Fund GAV1.5b	AUM787.4m	#Funds39

Brochure Summary

Overview

For purposes of this brochure, the “Adviser” means AH Capital Management, L.L.C., a Delaware limited liability company, together (where the context permits) with its affiliated general partners of the Funds (as defined below). The Adviser provides investment advisory services to pooled and other investment vehicles (“Funds”) that are exempt from registration under the Investment Company Act of 1940, as amended (the “1940 Act”) and whose securities are not registered under the Securities Act of 1933, as amended (the “Securities Act”). The Funds invest primarily in early stage and later-stage privately held companies as well as Digital Assets, as defined below in Item 8, although certain Funds invest and/or hold securities in public companies from time to time. The Adviser’s advisory services consist of investigating, identifying and evaluating investment opportunities, structuring, negotiating and making investments on behalf of the Funds, managing and monitoring the performance of such investments and disposing of such investments. The Adviser provides investment advisory services to the Funds in accordance

with the limited partnership agreement of each Fund and separate management services agreement (each, an “Advisory Agreement”). Investment advice is provided directly to the Funds, subject to the discretion and control of the applicable Fund’s general partner (a “General Partner”), and not individually to the investors in a Fund (the “Investors” or the “Limited Partners”). Services are provided to a Fund in accordance with the Advisory Agreement with a Fund and/or organizational documents of a Fund. Investment restrictions for a Fund, if any, are established in the organizational or offering documents of the Fund, Advisory Agreements and/or side letter agreements negotiated with investors in the Fund (such documents collectively, the Fund’s “Organizational Documents”). The principal owners of AH Capital Management, L.L.C. are Marc Andreessen and Ben Horowitz. The Adviser has been in business since 2009. As of December 31, 2023, the Adviser manages $56,035,682,377 in regulatory assets under management, on a discretionary basis. The Adviser does not manage assets on a non-discretionary basis.

ANDREESSEN HOROWITZ

Adviser Profile

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Compensation Arrangments

Reported AUM

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Brochure Summary

Overview