Click any tag below to further narrow down your results
Links
Andreessen Horowitz is expanding its crypto fund into a broader "frontier" fund that backs long-horizon technologies, from AI and new hardware to blockchain-based payments for machine networks. The firm says the crypto label matters less now that blockchains sit mostly in the background.
- The fund is being renamed from a16z crypto to a16z Frontier, but crypto investing and crypto regulatory advocacy continue.
- The firm argues companies should be defined by what they do, not by the technology they use, since Wall Street and fintech now routinely build on blockchains.
- Its thesis is that AI will enable "native" use cases and machine-to-machine networks, and that stablecoins and programmable blockchains can give those networks economic capabilities.
Former Foursquare CEO and chair Dennis Crowley writes about the company's acquisition, which left preferred and common shareholders with nothing, and takes partial blame for how the company got there. He also reflects on what he learned about founder loyalty and letting go.
- Per a fellow angel investor's account of the sale paperwork, every share of preferred stock was cancelled with no payment, and common shareholders also received zero.
- The author says the company hit $100M+ revenue in 2019–2021, then a 2019 private equity raise was followed by a banker-turned-CEO in January 2021, and he blames leadership for failing to preserve or create value afterward.
- Employees reportedly learned their shares were worthless through an email from legal and a 125-page PDF, which the author calls a failure of the transparency the company once prized.
Chris Neumann's Q3 2026 take on venture capital covers the widening gap between hypergrowth AI companies and everyone else, the coming disillusionment with AI agents, and how today's most competitive founders pitch in a fundamentally different way than they did two years ago.
- VC funding is splitting into two tiers: mega-funds chasing hypergrowth AI companies at inflated valuations, while most early-stage companies face a sluggish market. Series A and B investors are now deciding whether to chase hot companies regardless of cost, stick to pre-AI valuations, or adopt a hybrid approach.
- AI agents have crossed the hype peak and are heading toward the trough of disillusionment. Users are discovering agents fail on edge cases, require more oversight than doing tasks manually, and the real moat will be customer support—expect negative media stories once agents cause financial harm to regular people.
- Competitive founders today pitch opportunities measured in tens of billions or trillions, skip traditional TAM/SAM/SOM sizing, and credibly claim 2-3 year paths to $1B revenue with multiple funding rounds per year. Founders pitching slower timelines or multiple rounds just to reach product-market fit now look out-of-touch to VCs.
TechCrunch is hosting a one-day founder conference in Boston on November 4 featuring sessions on fundraising, hiring, AI strategy, and scaling. Speakers include investors and founders like HubSpot's Brian Halligan and executives from Underscore, NEA, and Bessemer Venture Partners.
- Sessions cover concrete founder challenges: how to raise capital in today's market, evaluate investors beyond valuation, and identify when you've actually hit product-market fit
- The event emphasizes that building outside Silicon Valley is viable — one speaker scaled a company to 30+ countries from Boston without relocating
- Networking with other founders and investors happens alongside the talks, positioning the day as a way to build ongoing relationships rather than just attend sessions
Bending Spoons is acquiring Miro, the remote collaboration startup that hit a $17.5 billion valuation in 2021, for $1.36 billion—a stark illustration of how SaaS valuations have collapsed since the pandemic boom. The deal reflects a broader pattern where once-hot software companies are now selling for a fraction of their former price despite remaining profitable with solid revenue streams.
- Miro's valuation dropped 92% from its 2021 peak, though the company remains healthy with $600 million in annual recurring revenue, 4 million paying users, and profitability
- SaaS multiples have unwound dramatically since 2021 as pandemic tailwinds faded and businesses consolidated tools, pushing companies like Miro aside in favor of integrated suites from better-funded competitors like Figma and Microsoft
- Bending Spoons is systematically acquiring recognizable SaaS companies that were priced as future giants but matured into slower-growth, profitable businesses—Airtable sold to them for $1.28 billion last month after a $11 billion 2021 valuation
Andreessen Horowitz closed its fifth Growth fund at $8.5B, betting that six major technology trends—enterprise AI, consumer AI, American Dynamism, robotics, healthcare, and compute infrastructure—will drive the next wave of generational companies. The firm is expanding its operational support for portfolio companies with new expertise in sales, marketing, pricing, and AI-native go-to-market strategies.
- a16z identified six concurrent mega-trends (enterprise AI, consumer AI, American Dynamism, robotics, healthcare, compute stack) emerging simultaneously, which they view as an unusually rich investment environment.
- The Growth fund is adding specialized operational teams focused on sales leadership, AI-native revenue operations, GTM strategy, and pricing transitions—staffed by operators who worked through hypergrowth at companies like Atlassian, Samsara, and Workday.
- The firm raised $8.5B for this fund based on founder demand and LP appetite, positioning growth-stage capital as essential alongside operational guidance for scaling through inflection points.
This post lists 11 subtle red flags that can turn VCs off, from over-polishing your deck to being too available or not knowing your numbers. It highlights common investor pet peeves and shows how certain behaviors signal desperation or lack of prep.
- Subtle behaviors (over-polished decks, constant availability, pitching for small stage prizes) spook VCs more than actual mistakes
- Not knowing core metrics like TAM, CAC, retention, and burn rate is an instant deal-breaker
- Claiming no competition or fundraising with only two months of runway signals naivety and poor planning
- Low founder enthusiasm and being "always fundraising" instead of building are red flags since investors back people, not just ideas
a16z is rolling out a structured program to help its growth-stage portfolio enter key international markets by adapting its US playbooks for regions like Japan, Korea, the Middle East, Europe, and Latin America. The firm will open new offices, leverage its talent and go-to-market teams, and build localized networks to guide founders through market-specific strategies rather than ad-hoc deals.
- a16z is replicating its 15-year-old US talent/GTM/media playbook for international markets instead of leaving global expansion to ad-hoc deals
- Priority regions are North Asia (Japan, Korea, Taiwan), the Middle East, non-UK Europe, and Mexico/Latin America, chosen for strategic importance plus high entry barriers
- New Japan office is opening and a Korea office has already launched, while English-speaking markets get deprioritized since firms can handle those alone
- Raghu Raghuram is leading the effort with Anne Neuberger (Global Affairs) and Jen Kha's Global Partnerships team
This page invites you to nominate promising startup founders or teams for the a16z speedrun program. If your referral is accepted—or you send multiple strong candidates—you’ll earn an invite to the exclusive speedrun Scouts Community.
- a16z's Speedrun program accepts referrals of promising startup founders/teams via a simple email-based form
- Referring multiple strong candidates, especially ones a16z ends up backing, earns entry into a private "Scouts Community" for networking and early deal flow
- The process just requires submitting contact info and agreeing to a16z's Terms of Use and Privacy Policy, with the team following up for a warm intro if interested
Secondary-market trades on Forge Global pushed Anthropic’s valuation to about $1 trillion, surpassing OpenAI’s roughly $880 billion price. The surge reflects scarce share supply, rapid revenue growth (from a $9 billion to $39 billion annual run rate), and partnerships with Amazon and Palantir.
- Anthropic's secondary-market valuation hit ~$1 trillion on Forge Global, surpassing OpenAI's ~$880 billion, up from just $380 billion three months earlier
- Anthropic's annualized revenue run rate jumped from $9 billion (late 2025) to $39 billion (March 2026), fueling investor demand
- Share scarcity is driving frenzied bidding, with offers ranging from $960 billion to $1.05 trillion and some even involving property trades
- Growth is tied to Claude Code's popularity and major partnerships with Amazon and Palantir
OpenAI raised $122 billion in its latest funding round, marking the largest in Silicon Valley's history. The investment, which values the company at $852 billion, includes major contributions from Amazon, Nvidia, and SoftBank, and expands access for individual investors through ARK Invest's funds.
- OpenAI raised $122 billion at an $852 billion valuation—the largest funding round in Silicon Valley history, with Amazon, Nvidia, and SoftBank contributing $110 billion combined.
- Retail investors can now get exposure through ARK Invest ETFs (3% allocation in its $6 billion Innovation ETF) plus over $3 billion raised from wealthy individuals via banks.
- OpenAI shares are also showing up in mutual funds/ETFs from T. Rowe Price and Fidelity, signaling broadening mainstream investor access ahead of a possible IPO by year-end.
a16z has announced a significant $15 billion fundraising round, bringing its total assets under management to over $90 billion. The article delves into the firm’s history, investment strategies, and its approach to venture capital, emphasizing its unique positioning and the skepticism it has faced over the years.
- a16z raised $15B, pushing total AUM past $90B, more than its closest competitors combined despite a tough fundraising market
- The firm holds stakes in ten of the fifteen most valuable private companies globally
- a16z's strategy centers on "elephant hunting" — chasing huge, transformative bets (echoing early wins like Skype and Facebook) rather than optimizing for immediate returns
- Skepticism has dogged the firm at every stage, yet its consistent narrative-building and marketing have reinforced its outsized market position