Andreessen Horowitz’s recent hire of former Jordan Park Group Chief Investment Officer Michel Del Buono suggests the venture capital firm is getting into startup founder wealth management.
| less than a minute read
a16z now wants to manage the money of the entrepreneurs it backs
As Bloomberg notes, wealth management can be a hugely profitable venture once the money comes in the door. Managers charge a percentage of the assets they oversee and profit margins can reach up to 50%. Andreessen is no stranger to breaking the norm in the venture world. In 2019, Andreessen formally became a registered investment adviser, which meant that the firm no longer had to limit its stakes, including in its general fund.
