DOJ Antitrust Probe Targets Venture Capital Firm Andreessen Horowitz

The U.S. Department of Justice has opened an antitrust investigation into Andreessen Horowitz, the Silicon Valley venture-capital firm co-founded by Marc Andreessen and Ben Horowitz. Bloomberg reports that investigators are focused on “interlocking directorates” – the practice of firm partners serving on the boards of competing AI companies in which the firm holds stakes. Specifically, partner Ben Horowitz sits on the board of Databricks, while partner Martin Casado serves on the board of Fivetran, which acquired dtb labs in June. The probe has been ongoing for roughly a year, according to anonymous sources cited by Bloomberg.

Forbes

Federal antitrust statutes prohibit any individual from simultaneously serving as a director or officer of two corporations that compete in commerce. The law includes limited exemptions for banks and firms with less than $10 million in total capital and profits. Bloomberg notes that Andreessen Horowitz could argue the provision does not apply because multiple partners, rather than a single person, sit on competing boards. The agency’s inquiry therefore centers on whether the firm’s board placements violate the “interlocking directorates” prohibition.

Forbes

Andreessen Horowitz endorsed President Donald Trump in the 2024 election and its co-founders have donated more than $5 million to Trump-supporting groups, per ProPublica. The firm’s political activity intensified during the 2024 cycle, with the New York Times reporting $115.5 million in donations to candidates in the November midterms. Marc Andreessen has also served as an adviser to the White House on AI policy, spending “half” his time after the 2024 election at Mar-a-Lago, according to Bloomberg.

Forbes

Andreessen Horowitz has not responded to requests for comment. No formal charges or enforcement actions have been announced.

Forbes

Commentary in Bloomberg highlights broader criticism that the DOJ has pursued investigations against Trump critics—such as Sen. Adam Schiff and former FBI Director James Comey—while showing leniency toward allies. The same reporting points to dropped probes of companies like SpaceX and Boeing after those firms made sizable donations to Trump-aligned political funds, suggesting a perceived double standard in the department’s enforcement approach.

Forbes