Just 15 months after opening, venture capital firm Andreessen Horowitz has raised $650 million in a second round of funding.
The recent round has raised more than doubled the size of its initial funding, which amounted to $300 million.
The company was founded by tech entrepreneurs Marc Andreessen and Ben Horowitz, who also co-founded Opsware together. Opsware was later sold to HP for $1.6 Billion.
The rise of the venture capital firm can be attributed to its drive to invest in unique technology start-ups. The firm is also a major investor in location-based social network Foursquare and social game developer Zynga, two of the hottest web properties around today.
The success of the firm can be measured by the fact that it took 3 three months to raise the first fund of $300 million but the second round of funding, double the amount of the first fund, took only three weeks.
“It was a busy three weeks,” Andreessen said.