Not everyone is has been scared off by weakening returns on venture capital: Marc Andreessen, best known for co-founding Netscape and serving as the chairman of social network builder Ning, is creating a new venture fund. He first announced that he’s “creating a fund” on the Charlie Rose Show yesterday, and he confirmed to peHUB that it’s going to be a venture capital fund.

Of course, Andreessen is already an active investor who has backed Facebook, Digg, Twitter, and many others; and he has been running an angel fund with former Opsware executive Ben Horowitz since 2007. Andreessen told Rose the venture fund will “preserve and extend” the angel model; investments will range from $200,000 to $1 million, with $500,000 as the “typical size.”

“What we’re seeing is a whole generation of startups that actually don’t need very much money to get started, so the cloud computing example, or a mobile application, an iPhone developer doesn’t need very much money to get started,” he said.

I’ve emailed Andreessen asking for more details, and will update if he responds. TechCrunch has a transcript of Andreessen’s Charlie Rose appearance, which is full of good stuff, including his statement that Facebook could be making a lot more money if it were willing to run giant banner ads, but is choosing not to.

http://video.google.com/googleplayer.swf?showShareButtons=true&docId=-4837435862114260403%3A112000%3A3249000&hl=en

VentureBeat

VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
  • up-to-date information on the subjects of interest to you
  • our newsletters
  • gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
  • networking features, and more
Become a member