(Bloomberg) -- Andreessen Horowitz, one of Silicon Valley’s biggest venture capital firms, has raised $7.2 billion in new funding — a sizable haul after a rocky period for the startup world. 

Firm co-founder Ben Horowitz called the funding a “major milestone,” in a blog post Wednesday. The final total exceeded the firm’s earlier fundraising target by about 4%. 

Andreessen Horowitz said the cash will be divided into different practices within the firm. Those include American Dynamism, focused on startups that further the “national interest,” at $600 million; growth, or later stage startups, with $3.75 billion; and gaming, with $600 million.

Artificial Intelligence is not a standalone fund because AI plays a role in all or most startups now forming, according to a person familiar with the firm’s thinking. Andreessen Horowitz is still on track to raise additional funds focused on cryptocurrency and bio technology in 2025, said another person familiar with the matter. Both people asked not to be identified discussing private information. 

Axios previously reported the fundraising.

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