For all its hype, Andreessen Horowitz has had few mega-exits in its relatively short history in venture capital. But the buzzy VC firm pocketed over $1 billion when its portfolio company, GitHub, was acquired by Microsoft in a $7.5 billion, all-stock deal, according to a person with knowledge of the figures. Andreessen Horowitz invested $100 million into the software startup in 2012, the single largest check it had ever written.
The firm owned about 13 percent of the company after that deal, according to Pitchbook, and made sure to take its pro rata rights — or right to follow up with more investment at a later date — when Sequoia Capital valued the company at $2 billion in its own deal in 2015. Those were the only two times that the 10-year-old company ever raised money. [ Re/Code ]