Andreessen: Venture capital has always been structurally overfunded
Marc Andreessen · How Andreessen Horowitz Disrupted VC & What’s Coming Next · Apr 29, 2025 · at 1:12:25
Marc Andreessen, co-founder of Andreessen Horowitz, shares an analytical insight from Benchmark co-founder Andy Rachleff on venture capital funding levels.
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“Basically, for as long as he had been in the field, I think you know, going back, you know, going back now decades, you know, he said, basically venture has always been over, over, Overfunded as an asset class. There's really never been a time in which vendor has, venture has been underfunded. Maybe, maybe a little bit in the extreme crises, like, you know, maybe 2009 as an example, but like generally venture is overfunded. He said his rough, I think he said at the time his rough back of the envelope math is sort of roughly always overfunded by like a factor of four.”
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