About This Fund
a16z Bio + Health is Andreessen Horowitz's dedicated healthcare and life sciences venture fund, established to back founders reshaping the frontiers of biology and medicine. Operating since 2014 as one of the most active healthcare venture capital practices in Silicon Valley, the fund raised $700 million in January 2026 as part of Andreessen Horowitz's record $15 billion fundraise—underscoring its position as one of the largest dedicated life sciences venture vehicles in the United States.
The fund deploys capital across multiple investment stages—seed through growth—at the convergence of technology and biology. Core investment themes include AI-driven drug discovery, clinical decision support, next-generation therapeutics such as cell and gene therapy, digital health platforms, care delivery innovation, and healthcare IT infrastructure. Portfolio construction favors founders who combine deep scientific expertise with technology-first approaches to building large-scale healthcare and biotechnology businesses, with a primary focus on the U.S. market.
Built on four prior fund vintages totaling over $1.4 billion—Bio Fund I ($200 million, 2015), Bio Fund II ($450 million, 2017), and Bio Fund III ($750 million, 2020)—the practice has assembled a portfolio of more than 40 companies including Waymark, Turquoise Health, Hippocratic AI, Pomelo Care, IDRx, and Cartography Biosciences. The practice further expanded through a $500 million Biotech Ecosystem Venture Fund co-launched with Eli Lilly in 2025, targeting therapeutic platform development and novel medicine discovery.