Assertion Supported AI assessment confidence: 95% certainty 3/5 debate potential 1/5

Evans: a16z and Sequoia are RIAs buying public equities like Block

Benedict Evans · A new wave of company creation · Aug 23, 2022 · at 13:24

Benedict Evans outlines how top venture firms like Andreessen Horowitz and Sequoia registered as investment advisers to buy public stocks.

0:00 / 0:14exact quote · 14.5s

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“Andreessen Horowitz is now a registered advisor, so is Sequoia, which means they can own public stocks. They own public stocks. I've read that Andreessen Horowitz bought stocks in Square, which is now in, which is now called Block. They bought it in the stock as a public company.”

quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →

The claim, plainly

Andreessen Horowitz and Sequoia Capital are registered investment advisers enabling them to hold public equities, and Andreessen Horowitz purchased public stock in Block (formerly Square).

a quote alone can be ambiguous, so this restates it with the references and context of the conversation around it resolved. AI-written; the tape below the player is the source.

Assessment

All legs of the claim are corroborated by SEC regulatory filings. AH Capital Management, L.L.C. (Andreessen Horowitz) registered as a Registered Investment Adviser (RIA) with the SEC effective April 11, 2019, specifically to remove the 20% limit on non-qualifying investments and enable holding public equities. Sequoia Capital Operations, LLC completed its transition to an SEC-registered investment adviser effective January 3, 2022, alongside restructuring into an evergreen structure to hold public equities. Furthermore, SEC Form 13F filings for AH Capital Management, L.L.C. confirm that the firm held publicly traded Class A Common Stock in Block, Inc. (formerly Square, Inc.), holding over 1 million shares.

SEC Investment Adviser Public Disclosure (IAPD) records show AH Capital Management, L.L.C. (CRD #160489 / SEC #801-114985) registered as an Investment Adviser on April 11, 2019.
SEC IAPD records show Sequoia Capital Operations, LLC (CRD #157373 / SEC #801-122957) registered as an Investment Adviser on January 3, 2022.
SEC Form 13F filings by AH Capital Management, L.L.C. (CIK #0001540358) disclose holdings of 1,016,697 shares of Block, Inc. (formerly Square, Inc.) Class A common stock.

Checked against

[1] sec.gov [2] radientanalytics.com [3] notboring.co [4] irei.com [5] sequoiacap.com [6] sec.gov [7] aum13f.com [8] fintel.io

Sequoia Capital registered investment adviser RIA SEC Form ADV "Andreessen Horowitz" "registered investment adviser" 2019 Andreessen Horowitz registered investment adviser RIA SEC Form ADV "Sequoia Capital" "registered investment adviser" 2021 OR 2022 "Sequoia Capital Operations" "AH Capital Management" "Block, Inc." OR "Square, Inc." 13F "AH Capital Management" "Block" OR "Square" "13F" "2020" OR "2021" OR "2022"

assessed as of 2026-09-02

This assessment is an AI reading of a public statement, made against the cited references with the confidence shown. It can be wrong. The quote, the tape and the references are all on this page; if something is off, use report an error below. full disclaimer →

Mentioned

Andreessen Horowitz Block Sequoia Capital

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Evans: a16z and Sequoia are RIAs buying public equities like Block

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