Andreessen Horowitz, commonly referred to as A16Z, is raising $1.5 billion for its fourth fund, Fortune reports.
A16Z is the venture capital firm with investments in hot companies like Airbnb, Pinterest, GitHub, Twitter, Foursquare, Lyft, and Fab.
It's expected that the new fund would have about $1 billion for the general fund, and $500 million for a "parallel" fund. The fund, Fortune's sources say, is already oversubscribed.
Back in 2012, A16Z raised a $1.5 billion fund, which included a $900 million fund for early-stage investments, and a $600 million "parallel" fund for bigger opportunities. The new fund is expected to similar in structure to the one from 2012.
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