Andreessen Horowitz is launching a $2 billion VC fund for later stage startups it thinks have 'unusually big visions'

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Andreessen Horowitz partner Marc Andreessen speaks during the Fortune Global Forum on November 3, 2015 in San Francisco, California.

• Silicon Valley venture capital firm Andreessen Horowitz announced Wednesday it raised $2 billion for its first late-stage venture fund.
• The firm's newest general partner David George will run the fund, which will specialize in providing funding for companies in Series C to Series G range.
• The firm also announced Fund VI, a $750 million early-stage fund for enterprise, consumer and fintech investments.
• Visit Business Insider's homepage for more stories.

Andreessen Horowitz, one of Silicon Valley's most high-profile venture capital firms, is shaking things up ahead of its 10th birthday.

Wednesday the firm announced it raised $2 billion for its first foray into late-stage investing. Managing Director Scott Kupor wrote in a blog post the fund will be run by new general partner David George and will invest in companies from Series C to Series G stages across a range of industries.

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The fund will not be called a growth fund, Kupor wrote, although it will look remarkably similar in practice to other growth funds in Silicon Valley. As tech startups stay private longer and later funding rounds have ballooned in size, investors hoping to get in on a round need substantial capital and dedicated teams to do so.

"In each era, there are a set of companies executing on unusually big visions for emerging categories, and we want these companies to be supported with a venture mindset that supports long-term vision and greater innovation risks," Kupor said in the blog post.

"For us, growth is about late-stage venture - aimed at great new companies that are just hitting escape velocity, and that may need a more venture-like mindset to support their further company building and scaling," he said.

Andreessen Horowitz also announced it has raised $750 million for Fund VI, an early-stage fund for enterprise, consumer and fintech opportunities. The new fund will sit alongside the firm's bio and crypto funds and will have its own dedicated investment team.

With these two new funds, Andreessen has raised a total of $10 billion in the last decade, Axios' Dan Primack reports.

Read Kupor's full blog post here.