Andreessen Horowitz Tops Venture Capital Firms in 2026 Midterm Donations

By Theodore Schleifer

*Theodore Schleifer covers billionaires and political donors.*

May 13, 2026

Andreessen Horowitz, a Silicon Valley venture capital firm, has emerged as the leading contributor among venture capital firms in disclosed federal contributions to the 2026 midterm elections, according to an analysis of Federal Election Commission data by OpenSecrets and The New York Times. The firm and its co-founders, Marc Andreessen and Ben Horowitz, have contributed approximately $89 million so far this cycle.

This figure places Andreessen Horowitz ahead of other venture capital entities but behind some corporate donors, such as SpaceX, which has reported contributions totaling $288 million since the 2024 election, per OpenSecrets data. Other major individual donors include entities linked to George Soros ($102.9 million, per prior Times analysis), Elon Musk ($85 million) and Jeff Yass ($81.8 million), though exact cycle totals for some remain subject to ongoing disclosures.

Andreessen Horowitz has a history of political involvement. The firm and its founders contributed around $63 million in the 2024 election cycle. Following that election, on Nov. 6, 2024—the day after Election Day—the firm directed approximately $23 million to super PACs supporting the cryptocurrency industry, according to Federal Election Commission filings.

The firm declined to comment and did not make Mr. Andreessen or Mr. Horowitz available for interviews.

In a podcast recorded shortly after the 2024 election, Mr. Andreessen stated, “My conclusion is this has to be a permanent role that we play. There will be some phases of the moon in which the tides are on our side. And there will be some phases when we really have to fight. But we have to stay involved every step of the way.”

The firm's contributions this cycle reflect a broader trend in which corporations, including venture capital firms, have increased their political spending compared to prior cycles dominated more by individual billionaires. Critics have described this shift as potentially amplifying corporate interests in elections, though proponents argue it supports policy alignment with industry needs.

Since Election Day 2024, Andreessen Horowitz has contributed about $23.8 million to Fairshake, a super PAC network backed by cryptocurrency companies and supporting candidates from both parties who favor crypto-friendly policies. The firm also helped establish Leading the Future, a super PAC network modeled after Fairshake and focused on candidates supportive of artificial intelligence development. It donated $50 million to Leading the Future, which likewise backs both Republicans and Democrats.

Additionally, filings show contributions of $12 million from the firm and its co-founders to MAGA Inc., a super PAC aligned with former President Donald Trump, including $6 million in March. A trust linked to Mr. Andreessen donated nearly $900,000 to the Republican National Committee in the same month.

These activities have coincided with Mr. Andreessen developing ties to the Trump administration. Before Mr. Trump's second inauguration last year, Mr. Andreessen said he spent “half” his time at Mar-a-Lago assisting with the presidential transition. He also provided informal advice to Mr. Musk’s Department of Government Efficiency initiative. Two former Andreessen Horowitz partners joined senior government roles, including one focused on A.I. regulation.

In March, Mr. Andreessen, 54, was appointed to a White House technology advisory council. He attended a state dinner for Britain’s King Charles and a White House dinner for participants in Mr. Trump’s Rose Garden Club event, where temporary paving was added to the lawn.

Regulatory filings indicate that most donations from Mr. Andreessen and Mr. Horowitz have been routed through the firm, which they own. The approximately $89 million in disclosed federal contributions excludes recent funding to American Innovators Network, a new nonprofit advocacy group on A.I. issues co-founded by the firm, as nonprofits are not required to disclose donors.

Founded in 2009, Andreessen Horowitz manages about $100 billion in assets and is known for investments in startups such as Coinbase, a cryptocurrency exchange, and Instagram, a photo-sharing app. The firm employs a talent-agency model, emphasizing aggressive recruitment and promotion.

The co-founders have varied political histories. Mr. Andreessen gained prominence in the 1990s as founder of Mosaic, an early web browser, and served on Vice President Al Gore’s technology advisory group while fundraising for Democrats.

Over time, his views shifted rightward. After the 2016 election, Mr. Andreessen said he “deliberately withdrew from political engagement and fund-raising.” He described undertaking a “spirit walk” through the political system on a podcast, rereading foundational texts with attention to ideological extremes.

People familiar with his private communications said Mr. Andreessen participates actively in group chats with conservative activists discussing current events.

Mr. Horowitz, 59, is the son of David Horowitz, a conservative commentator. A person close to the firm described him as less outspoken politically and less directly involved in super PAC decisions than Mr. Andreessen. The firm endorsed Mr. Trump in summer 2024, but Mr. Horowitz donated to Kamala Harris’s presidential campaign that October, citing their personal friendship.

Mr. Andreessen and Mr. Horowitz have described themselves as “single-issue voters,” prioritizing policies beneficial to tech startups. Associates who have discussed politics with them said this approach intensified after disputes with media outlets and Biden administration officials over technology regulations.

Mr. Andreessen has recounted to friends an encounter about a decade ago with David Remnick, editor of The New Yorker, at Condé Nast headquarters. According to a person who heard Mr. Andreessen’s account, Mr. Remnick’s team suggested tech leaders were disconnected, but Mr. Andreessen noted the opulent offices and facilities, leading him to question media perspectives.

The Fairshake super PAC originated before the 2024 election, organized by Chris Lehane, a Silicon Valley political strategist and Coinbase board member alongside Mr. Andreessen. Andreessen Horowitz and firms like Coinbase and Ripple provided anchor funding, with the venture firm contributing $47 million that cycle. Fairshake supported bipartisan candidates, though much current pro-crypto policy in Washington aligns with positions advanced by Mr. Trump, whom the PAC did not back.

In spring 2025, Mr. Lehane, now an OpenAI executive, consulted with Andreessen Horowitz, other tech donors and operatives on applying a similar early-start strategy to A.I. The firm, with significant A.I. investments, committed $25 million to Leading the Future in August 2024 and another $25 million in February 2025. People close to the firm said it has not finalized additional contributions.

The firm’s $89 million in political donations represents a fraction of its $100 billion assets under management. Rival venture firms, including Sequoia Capital and Founders Fund, have not reported comparable federal contributions since 2024.

In aggregate, since the 2024 election, the next largest disclosed federal donors after SpaceX include Soros-linked entities (~$103 million) and Musk (~$85 million), per Times and OpenSecrets analyses.

The firm’s activities have drawn criticism. John O’Farrell, an early part-time advisory partner, resigned in May 2025 citing political differences, according to a person who spoke with him. He has publicly criticized Fairshake, Leading the Future and tech figures supporting the current administration but declined further comment.

Progressives have also raised concerns. Last year, some Democrats questioned Sen. Ruben Gallego’s fundraiser with Mr. Andreessen. Leading the Future’s spending prompted the creation of Public First, a rival super PAC emphasizing A.I. safety. Organizers of Public First reportedly considered naming it “z16a,” inverting Andreessen Horowitz’s nickname “a16z.”

Alex Bores, a Democratic state legislator from New York running for Congress and backed by Public First, said he welcomed opposition from Leading the Future, stating, “Venture capital is all about achieving scale as quickly as possible, but I don’t think you should apply that to buying our democracy.”

Some Republicans have expressed private frustration with Fairshake and Leading the Future’s bipartisan approach, preferring alignment solely with the GOP given its stances on A.I. and crypto. Mr. Andreessen and Mr. Horowitz have told allies they have limited direct control over PAC decisions. People familiar with the arrangements said the founders rarely interact with PAC leadership.

The firm’s political and lobbying efforts are coordinated by Collin McCune, a former Capitol Hill aide and Republican. He receives briefings on PAC activities and updates Mr. Andreessen and Mr. Horowitz.

Reflecting on political spending, Mr. Andreessen said in 2000, at age 29: “If you think there’s a lot of money in politics now, you haven’t seen anything yet.”

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