Venture capital firm Andreessen Horowitz announced last week that it closed its third Cultural Leadership Fund (CLF), an investment vehicle led by partner Megan Holston-Alexander.
The fund formed four years ago with a mission to explicitly raise money solely from Black investors. As part of the new fund’s rollout, a16z listed dozens of new investors, many of them high-wattage names like singers Pharrell Williams, Abel “The Weeknd” Tesfaye, and Lionel Ritchie.
The debut fund, closed in 2018, was an $18 million investment vehicle while Fund II filings indicated a $23.6 million close. While the f
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Black LPs fuel a16z’s third Cultural Leadership Fund
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