This week, the private markets accelerated. From record-breaking fundraises to strategic acquisitions and expanding credit plays, capital is flowing with renewed intensity. Here’s what happened and what it means for the landscape ahead.
The Headlines That Matter
1. Andreessen Horowitz Resets the Scale: $15 Billion
Andreessen Horowitz announced a $15 billion capital raise across its fund strategies, more than double its $7.2 billion raise less than two years ago.
The Breakdown:
Growth: $6.75 billion (45% of total)
Infrastructure: $1.7 billion
Apps: $1.7 billion
American Dynamism: $1.18 billion
Bio + Healthcare: $700 million
Other Strategies: $3 billion
Why This Matters: This single raise represents approximately 18% of all US venture capital raised in 2025. The concentration of capital into fewer, larger funds continues to reshape the competitive landscape. With its massive growth fund, a16z is positioned to double down on winning portfolio companies and maintain pro-rata rights through later stages—a critical advantage as the IPO window potentially reopens.
The Signal: Mega-funds aren’t just getting larger; they’re becoming capital platforms with dedicated strategies across stages and sectors.
