Tech billionaire Marc Andreessen quietly selling company shares

Marc Andreessen quietly sold at least $125 million of shares in Andreessen Horowitz, the storied venture-capital firm he co-founded with Ben Horowitz, according to people familiar with the matter and filings with the Securities and Exchange Commission.<br><br>While Andreessen’s sales — which started in 2021 — were not entirely unexpected, they haven’t been previously reported and mark a surprise exit from a firm widely regarded as one of the most successful in the industry. The sales came as the company’s 12th flagship venture fund — which aims to invest in “commercial software for enterprises” — raised $4 billion in July.<br><br>Andreessen, 51, helped co-found Andreessen Horowitz in 2009. He has played a role in creating some of the company’s biggest wins, including Clubhouse and Dapper Labs. This summer, he sold about 10% of Andreessen Horowitz to TPG’s Thoma Bravo in a deal that valued the firm at a staggering $12.2 billion.<br><br>Andreessen has since stepped back from the firm’s venture arm to pursue venture investments for the company’s separate venture growth subsidiary, according to the people, who asked not to be identified discussing private information. An Andreessen Horowitz spokesperson said Thursday that Andreessen is reducing his role in the company’s venture arm as part of a normal transition.<br><br>Andreessen declined to comment on the matter.<br><br>In June, he told Bloomberg that he no longer sits on the boards of Facebook or Stripe, two of the firm’s key investment successes.<br><br>Curious to know more about how this is going to impact the tech world.