VC firm Andreessen Horowitz raises $1.5B to invest

(AP) -- A venture capital firm started by Silicon Valley entrepreneur Marc Andreessen has raised an additional $1.5 billion to invest in promising technology startups.

The fundraising announced Tuesday serves as further validation of the success Andreessen has enjoyed since he became a venture capitalist in mid-2009. His firm, Andreessen Horowitz, has invested in about 90 privately held companies. The portfolio includes social networking service Facebook, which is expected to file plans for an initial public offering of stock as early as Wednesday.

Andreessen helped trigger the dot-com boom when he co-founded Web browser pioneer Netscape Communications in the mid-1990s. He now serves on the boards of several companies, including Facebook and Hewlett-Packard Co.

With the latest infusion, Andreessen Horowitz has now raised $2.7 billion since the firm's inception.

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