News Summary

Vijay Pande, a founding partner and general partner at Andreessen Horowitz, has announced his departure from the firm’s a16z Bio + Health strategy. Since its inception in 2014, a16z Bio + Health has raised four substantial funds totaling nearly $3 billion each, with the most recent being a $1.5 billion fund that closed in 2022. The firm is now targeting a smaller $750 million fund for its fifth round, as reported by The Wall Street Journal. Additionally, in January, a16z Bio + Health revealed its management of a $500 million biotech fund financed by pharmaceutical leader Eli Lilly. The firm is known for supporting digital health startups and ventures at the convergence of AI, computation, and biology. Pande’s portfolio includes investments in companies like Devoted Health, Function Health, and Freenome. Prior to his role at Andreessen Horowitz, Pande was a professor at Stanford University. The a16z Bio + Health team will continue under the leadership of partners Jorge Conde, Julie Yoo, and Vineeta Agarwala.