Andreessen Horowitz Fund III-Q, L.P.
Andreessen Horowitz · adviser of record: AH Capital Management, L.L.C. · 2011 vintage
Andreessen Horowitz Fund III-Q, L.P. is a 2011 venture fund managed by Andreessen Horowitz, with $80mm raised (Form D, amount sold). It reported $720mm in gross assets at year-end 2025, 9.00x its size, its highest reported value.
- Latest value held
- $720mm year-end 2025
- Peak
- $720mm year-end 2025
- Fund size
- $80mm Form D, amount sold
- Held vs. size
- 9.00x peak 9.00x
Value held by year-end
Gross asset value reported on Form ADV at each year-end. Dashed line: fund size. Open in the Fund Tracker
| Year-end | Gross assets | ÷ size | Change |
|---|---|---|---|
| 2025 | $720mm | 9.00x | +166% over 2 yrs |
| 2023 | $271mm | 3.38x | -9% |
| 2022 | $298mm | 3.72x | -49% |
| 2021 | $581mm | 7.26x | +24% |
| 2020 | $469mm | 5.86x | +169% |
| 2019 | $175mm | 2.18x | +4% |
| 2018 | $168mm | 2.10x | +36% |
| 2017 | $124mm | 1.55x | +14% |
| 2016 | $109mm | 1.36x | -20% |
| 2015 | $136mm | 1.71x | +14% |
| 2014 | $120mm | 1.50x | +57% |
| 2013 | $76.7mm | 0.96x | +11% |
| 2012 | $69.1mm | 0.86x | +1% |
| 2011 | $68.7mm | 0.86x | – |
Other funds from Andreessen Horowitz
- AH Stah, L.P. 2023
- RESW1, L.P. 2023
- Andreessen Horowitz Fund VIII, L.P. 2022
- AH Bio Fund IV, L.P. 2022
- AH 2022 Annual Fund, L.P. 2022
- AH Games Fund I, L.P. 2022
- CLF Partners III, LP 2022
- AH 2022 Annual Fund-B, L.P. 2022
- AH 2022 Annual Fund-QC, L.P. 2022
- Andreessen Horowitz LSV Fund III, L.P. 2021
- Andreessen Horowitz Seed Fund I, L.P. 2021
- Andreessen Horowitz Seed Fund I-Q, L.P. 2021
About these numbers
Gross asset value is what the manager reports holding in the fund at each fiscal year-end, on SEC Form ADV, Schedule D. It includes the GP’s own commitment and is before carried interest, so it is not the LPs’ net return, and it does not show cash already distributed. A fall in value can mean distributions, markdowns or both. Fund size is the amount sold reported on Form D, which for some funds reflects only a first close. Private fund ID 805-7754460292. Data updated October 13, 2026.
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