Andreessen Horowitz closes $1.5 billion fund

Andreessen Horowitz announced today the closing of a $1.5 billion investment fund.

Fund V, as the VC powerhouse called its latest fund, will be used to invest in “seed, early-stage, and mid-stage-growth tech companies.”

The firm said that it will continue to make investments under the same philosophy it has been using for the past seven years, that “software is eating the world.”

Based on the announcement, the A16 fund will aim to find the next Airbnb and Lyft, but also non-traditional tech innovation:

The market opportunity for successful new technology businesses is bigger than ever. New startups are being created every day, driven by the significant expansion in market size as well as fundamental enabling innovations: Besides cloud, mobile, and full-stack approaches, there are more breakthroughs than ever before in machine learning, deep learning, and AI.