Andreessen Horowitz has formed its third Cultural Leadership Fund (CLF III). CLF III is a venture capital fund with an investor base consisting entirely of Black cultural leaders and organizations committed to Black ownership and wealth generation. The Cultural Leadership Fund at Andreessen Horowitz (a16z) was founded to address gaps in access and equity for Black communities in technology. CLF III will invest in a16z portfolio companies across industries, including consumer, crypto, enterprise, fintech, and healthcare/biotech.
CLF III is a16z’s third fund consisting entirely of Black cultural leaders and organizations committed to Black ownership and wealth generation. CLF III included a number of Fund I & II investors while also expanding to include a fresh slate of cultural leaders who connect with the mission for the first time. Some of the new members include Abel “The Weeknd” Tesfaye, Anderson .Paak, Andrea and Charles Young, Angelique Brunner, Anré Williams, Ben Simmons, Blake Griffin, Bubba Wallace, Clarence Nesbitt, DeAndre Ayton, Danny Green, Dez Bryant, DJ Augustin, Erin Teague, Kelvin Beachum, Kenneth Frank, Kyle Lowry, La Mar Taylor, Leonard Fournette, Lionel Richie, Maya Moore, MK, Nneka Ogwumike, Patrick Mahomes, Pharrell Williams, Pierre Aubameyang, Troy Millings, Rashad Bilal, Shellye Archambeau, Stacy Brown-Philpot, and numerous others.
The original CLF fund was launched in August 2018. Since then, Funds I and II have reached notable milestones including:
Raising more than $60M of Black capital and investing in over 300 companies across industries including consumer, crypto, enterprise, fintech, and healthcare/biotech.
Introducing over 100 Black cultural leaders to exciting opportunities with new technology companies.
Donating 100% of a16z’s management fees and carried interest (over $2.5M) to nonprofit organizations that are focused specifically on getting more African Americans into technology.
Built a thriving talent network that actively connects Black talent to a16z portfolio companies across various roles.
The Cultural Leadership Fund was designed as an opportunity to contribute to two major shifts: more Black dollars on the cap tables of the world’s best companies AND Black talent embedded into technology companies at the earliest stages. We believe these shifts, if committed to in a systematic and sustainable way, can have a meaningful impact on building generational wealth for Black communities.
