Marc Andreessen lays out some core principles of venture capital

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You might have seen that Marc Andreessen and Bradley Horowitz announced a new $300m fund yesterday, named Andreessen Horowitz and with just the two of them as partners.  They have no website.

With the precision and clarity that made me a big fan of his blogging until he stopped last year Andreessen yesterday set out the core principles and investment strategy for his new firm.  The post is (also typically) quite long, and is well worth a read if you are either an investor or someone looking to understand the space, but it can be boiled down to three pre-requisites for success that I believe any venture fund would be foolish to ignore:

  • Believe strongly in the future
  • Invest in what you know
  • Be clear about what you want to invest in

To finish I’m going to quote Andreessen on the first point.  Anyone who reads this blog regularly will know I’m a big believer in the power of technology to have a positive impact on society and that the pace of change is increasing.  Here’s what Andreessen wrote on the same topic

    • Technology and its advancement is absolutely central to human progress. Entrepreneurs who create new technologies and technology companies are improving the standard of living of people worldwide and unlocking amazing new levels of human potential.
    • While broad investor psychology whips wildly between euphoria and depression, technology change not only continues but is accelerating. In fact, we believe that technology change cascades — each new generation of technology continues within it the seeds for even more profound advances to come. And, technology change creates continuous opportunity to build important and valuable new companies.

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