Silicon Valley-based venture capital firm, Andreessen Horowitz, is expanding its presence with the opening of a new office in Washington D.C. The firm has secured a 12,000 square foot sublease at PNC Place from FedEx Corp. This strategic move aligns with their focus on investing in defense, aerospace and national security startups.
The sublease agreement will run through 2029 and positions the firm near the White House. With assets totaling $42 billion, Andreessen Horowitz has an impressive track record of backing successful tech companies such as Airbnb, Coinbase and Facebook.
This expansion also supports the firm’s American Dynamism initiative which aims to invest in sectors critical to national interests. In fact, they recently closed a $7.2 billion fund with $600 million allocated specifically for this initiative.
Already making moves in D.C., Andreessen Horowitz led a $61 million funding round for Arlington-based Cape – a privacy-focused telecommunications startup – back in April. The new office is expected to be operational later this quarter as part of their continued growth strategy.
