Andreessen Horowitz has increased the size of its fifth growth fund to $8.5 billion, up from $6.75 billion announced in January, adding $1.75 billion. The expansion comes days after the firm raised $1.1 billion for its new Machine Age Fund, which targets AI hardware startups focused on chips, memory, networking, and storage. The growth fund has operated for seven years and has backed more than 100 companies. Current investment priorities include enterprise and consumer AI, defense technology, robotics, infrastructure software and hardware, and health technology. In January, a16z also unveiled a new $15 billion fund, bringing its assets under management at the time to $90 billion.