Andreessen Horowitz (a16z) has finalized the closing of two investment funds, collectively amounting to $4.5 billion, as the company announced in a blog post today. The firm secured $1.3 billion for a fund concentrating on early-stage companies in the consumer, enterprise, and fintech sectors, and completed a $3.2 billion fund dedicated to growth-stage investments in more established businesses. The firm did not provide an immediate response to a request for further details.

While the scale of these funds aligns with the substantial amounts being raised by venture capital firms currently, they represent significant figures considering a16z, with locations in Menlo Park and San Francisco, was established only 11 years ago.

These funds also elevate the firm’s total assets under management to $16.5 billion.

Just 20 months prior, a16z concluded the fundraising for its previous set of funds – a $2 billion late-stage fund and a $740 million early-stage flagship fund.

In addition, the company revealed a separate $515 million fund specifically focused on cryptocurrency investments earlier this year, marking its second fund of this type. Furthermore, in February, it launched its third fund for investments in biotech and healthcare, securing $750 million in capital commitments.

This represents a considerable influx of capital within a single year. However, the firm’s limited partners have demonstrated confidence in its investment portfolio. For instance, in January, Plaid, a fintech company in which a16z participated in a Series C funding round in late 2018, was acquired by Visa for $5.3 billion, having previously raised approximately $310 million.

The Department of Justice recently initiated legal action to prevent the acquisition based on antitrust concerns, but industry analysts remain optimistic about Plaid’s future even if the deal is blocked.

The firm also holds an investment in Airbnb, the accommodations marketplace preparing to become a publicly traded company. Notably, according to Airbnb’s S-1 filing, a16z’s ownership stake is not substantial enough to warrant inclusion in the filing, despite leading the company’s Series B funding round in 2011 and having general partner Jeff Jordan on its board, which would typically require disclosure of any ownership position.

We have inquired whether a16z has sold a portion or all of its stake, potentially earlier this year, and are awaiting a response.

Affirm, another portfolio company specializing in pay-as-you-go lending, has also submitted its initial public offering filing. Andreessen Horowitz initially invested in the company’s Series B round in 2015. It is also not listed on Affirm’s S-1 filing, indicating ownership of less than 5% of the company.

Additionally, the firm is an investor in Roblox, the gaming company, which launched its S-1 filing earlier this week; a16z is not listed within it.

On the early-stage investment front, the firm is known for its prominent deals, including a $100 million valuation for the voice-chat application Clubhouse and a $75 million valuation for Trove, a Y Combinator graduate.

A16z has also recently introduced a TxO accelerator, utilizing a donor-advised fund to invest in founders from underrepresented backgrounds. Spearheaded by a16z partner Nait Jones, TxO has provided $100,000 each to an initial group of seven companies in exchange for a 7% equity stake.

The donor-advised fund began with $2.2 million in initial commitments, with Ben and Felicia Horowitz pledging to match up to $5 million. Any profits generated from companies within the fund will be reinvested into the investment vehicle. The firm has not disclosed the fund’s total size to date.

Currently, a16z has a team of 185 employees, most recently adding Anthony Albanese, formerly the chief regulatory officer at the New York Stock Exchange, as an operating partner for its cryptocurrency division.

One of a16z’s most successful investments to date appears to be GitHub, which was acquired by Microsoft in a $7.5 billion all-stock transaction in 2018, reportedly yielding a profit of over $1 billion for a16z. The firm made the largest investment it had committed at the time, providing $100 million. The terms were advantageous enough for a16z to secure the deal over competitors like Benchmark, as general partner Peter Fenton recently stated.

The firm is also an early investor in Coinbase, the cryptocurrency exchange, which was last valued at $8 billion by private investors and is considering an initial public offering, potentially in the coming year. Furthermore, a16z holds a stake in Robinhood, the popular trading app, which was valued at $11.7 billion in September.

Robinhood is also reportedly planning an IPO in the near future.