a16z's larger venture funds consistently outperform its smaller funds
David George · a16z's David George on the Most Controversial Bet at a16z & Do Margins and Revenue Matter in AI? · 20VC with Harry Stebbings · Dec 15, 2025 · at 2:00
David George is General Partner at Andreessen Horowitz. He is responding to claims by other VCs that large venture fund sizes inevitably dilute LP returns.
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“Our funds consistently beat small, large, Diversified, concentrated venture funds. So our larger funds have outperformed our smaller ones, and our larger ones actually have similar multiples of money to our smaller ones across, across strategies.”
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