Ben Horowitz on Raising a New Fund and How Venture Firms Scale

In this feed drop from Uncapped, Jack Altman sits down with a16z co-founder Ben Horowitz to unpack the founding bet behind Andreessen Horowitz. VC should be a better product for entrepreneurs, built on real operating experience, real networks, and real support.

Ben shares how he and Marc Andreessen have worked together for 30 years, how they make decisions, and what it takes to scale a venture firm without losing the edge that actually helps founders. They also dig into why boards matter, how platform teams can change what partners do day-to-day, and the difference between “heat-seeking” investing and conviction-driven company building, especially in sectors like AI and crypto.

Timecodes:

00:00 Introduction

01:05 Ben Horowitz & Marc Andreessen’s Partnership

04:05 Building & Leading a16z

07:16 Managing High-Powered VCs

11:01 Boards, Governance & Founder Support

15:36 Platform Services & Recruiting

17:43 Scale vs. Concentration in Venture

20:57 Why Venture Can Scale

24:27 Platform Services: What Works and What Doesn’t

27:50 The Real Value of Board Membership

35:38 Media, Brand & Marketing Evolution

41:32 The Future of Media & Journalism

45:30 Limits on Venture Firm Size

49:13 Winning vs. Picking Deals

53:16 The Case Against Venture Scale

55:49 Hiring Operators & Rethinking the VC Product

Resources:

Follow Ben on X: https://twitter.com/bhorowitz

Follow Jack on X: https://twitter.com/jaltma

Watch more from Uncapped: https://www.altcap.com/

Stay Updated:

If you enjoyed this episode, be sure to like, subscribe, and share with your friends!

Find a16z on X: https://twitter.com/a16z

Find a16z on LinkedIn: https://www.linkedin.com/company/a16z

Listen to the a16z Podcast on Spotify: https://open.spotify.com/show/5bC65RDvs3oxnLyqqvkUYX

Listen to the a16z Podcast on Apple Podcasts: https://podcasts.apple.com/us/podcast/a16z-podcast/id842818711

Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

Stay Updated:

Find a16z on X

Find a16z on LinkedIn

Listen to the a16z Show on Spotify

Listen to the a16z Show on Apple Podcasts

Follow our host: https://twitter.com/eriktorenberg

Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.