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Andreessen Horowitz held a final
close on its fifth flagship venture capital vehicle this
week, dwarfing the size of similar vehicles.
Andreessen Horowitz V raised $1.5 billion, the same as its
predecessor, but almost five times the size of the average venture capital fund
to close in 2015.
PEI’s Research & Analytics team has looked into the
average size of venture capital and growth equity vehicles closed since 2010,
to determine whether funds of this type are increasing in size across the
In 2015, a total of $104.75 billion was raised from 310
venture capital and growth equity vehicles, at an average of $338 million per
fund. This figure is nearly double 2010’s. So far in 2016, the average size stands
at $275 million.
Andreessen Horowitz Fund V is the joint-largest fund to
close this year, along with Accel Growth Fund IV.
However, Sino-Singapore Chongqing Connectivity Private
Equity Fund and Medical Research Future Fund are both fundraising, targeting
$15 billion and $14.8 billion respectively. If either of these vehicles closes
on or above its target, 2016 average fund size may yet surpass last year.
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