June 17, 2024

VC agency Andreessen Horowitz (a16z) could also be trying to increase its providers by managing the funds of startups it invests in.

In response to Bloomberg, the corporate just lately employed Michel Del Buono as chief funding officer. His duties will embrace overseeing a variety of wealth-management providers.

Offering wealth-management providers may very well be a extremely worthwhile enterprise for the agency. Corporations normally cost 1% of a consumer’s property, with income reaching as excessive as 50%.

Whereas a16z did verify Del Buono’s hiring to Bloomberg, it declined to touch upon any future enterprise plans.