A16Z launches $400M seed fund
Venture firm Andreessen Horowitz (a16z) announced the closing of a new $400 million seed fund that will invest across all areas of technology.
The fund is the latest in a series of ambitious investment vehicles raised by the Silicon Valley firm, which had its best exit year to date in 2021.
Seed has historically been an important part of the firm’s strategy. The 12-year-old firm lists Slack, Okta, Databricks and Instagram among the successful companies for which it wrote early checks. Since 2020, roughly half of new investments for a16z have been in early-stage companies.
EngageSmart files for IPO
Braintree, Massachusetts-based EngageSmart,a provider of customer engagement software, filed to go public on the New York Stock Exchange. The company posted $181 million in revenue for the 12-month period ended June 30, and was approximately breakeven during that time.
Funding rounds
Lynk Pharma raises $50 million: Hangzhou-based Lynk Pharmaceuticals, a drug R&D company focused on small molecule clinical development, raised $50 million in a Series B financing led by Lilly Asia Ventures. The funds will primarily go toward Phase I and II clinical trials for multiple programs in its R&D portfolio.
