Earlier this month, we reported on how some of the biggest venture capital firms just keep getting bigger as more money consolidates in the hands of fewer players. And that trend appears to be continuing, with news this week that Bain Capital (the former firm of presidential hopeful Mitt Romney) and Andreessen Horowitz (the firm founded by Netscape founder Marc Andreessen) raised two very large funds.
Bain, a backer of Seattle area companies such as AdReady and Inrix, pulled in $600 million in what The New York Times called the firm’s largest fund to date. Meanwhile, Andreessen Horowitz raised another $1.5 billion, bringing total capital in the firm to $2.7 billion.
Andreessen Horowitz is a backer of Bellevue-based Apptio, as well as big names such as Twitter, Facebook, Groupon and Zynga.
“We are uniquely positioned to help the greatest technology entrepreneurs in the world build the best technology companies in the world, and that’s just what we’re going to do,” wrote partner Ben Horowitz in a blog post.
Together, those two new funds represent nearly half of what was raised last quarter by venture capital firms when $5.6 billion flowed into 38 venture capital firms.
One interesting trend to watch will be whether smaller funds from Seattle such as Madrona and Voyager Capital meet with success as they head out on the fundraising path.