Andreessen Horowitz Shuts Down $175K Fund for Underserved Founders, Lays Off Staff
Summary
Andreessen Horowitz shuts down its $175,000 Talent x Opportunity Fund that supported over 60 underserved founders since 2020, laying off at least three staff members as the firm integrates diversity efforts into its broader investment strategy.
Key Points
- Andreessen Horowitz pauses its Talent x Opportunity (TxO) Fund that supported underserved founders since 2020, with partner Kofi Ampadu notifying participants via email on October 16
- The program provided $175,000 investments and 16-week training to over 60 companies, primarily serving women and minority founders who lack access to traditional venture networks
- A16z lays off at least three TxO staff members at the end of October as the firm integrates the program into its broader early-stage investing strategy