Fund Analysis: a16z Growth Fund V

Part of a broader raise announced Jan 9, 2026 including American Dynamism (~$1.176B), Apps (~$1.7B), Infrastructure (~$1.7B), Bio+Health (~$700M) and $3B “other venture strategies

Andreessen Horowitz (a16z) — Growth Fund V

Announced: Jan 9, 2026
Fund size (reported): $6.75B (largest fund in a16z’s newly announced ~$15B+ raise)

One-page takeaway

What it is: a16z’s fifth growth vehicle, focused on investing in more mature private companies (growth stage).
Why it matters: In an environment where VC fundraising has been challenged by low distributions, a16z’s ability to raise at scale is itself a market signal (brand + LP access + perceived opportunity set in AI).
Core question for LPs: Does a $6.75B growth fund improve your access to late-stage category leaders—or does it increase “megafund” risks (deployment, valuation, and exit timing)?

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