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While other firms have struggled to raise funds, Andreessen said his firm was able to raise $650 million in three weeks, tapping all of the existing investors from the first round — which took three months to complete. He said it shows that limited partners are willing to put their faith in top firms that can access good entrepreneurs and strike quality deals. “The reality is there are 10-20 funds that have good returns while every other VC is over-funded with too much money chasing opportunities,” Andreessen said.
