WRAL Tech Wire

Report: Netscape co-founder Andreessen, partner raise $300M fund

Marc Andreessen, co-founder of Netscape, and partner Ben Horowitz have closed on a $300 million new venture fund, according to the web site All Things Digital.

The Andreessen Horowitz fund is oversubscribed from the initial target of $250, sources told the web site.

“Several major institutional investors–from universities, for example–have invested large chunks of up to $20 million or more, while a spate of Silicon Valley luminaries has put in amounts of $1 million or less,” All Things Digital reported.

Andreessen, a serial entrepreneur, disclosed plans to raise the fund in February, telling TV interview Charlie Rose that he was “crossing over into the dark side.”

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