The venture capital entity Andreessen Horowitz has increased its fifth growth fund to $8.5 billion. This signifies that the firm has added an additional $1.75 billion since the fund’s inception in January, which began with $6.75 billion.

The firm’s announcement arrives just days after a16z revealed it had secured an additional $1.1 billion for a new, distinct fund referred to as the “Machine Age Fund.” The fund’s nostalgic, steampunk-influenced name underscores its emphasis on AI hardware firms that are creating chips, memory, networking, and storage solutions.

As indicated by the growth fund’s title, it provides capital aimed at supporting growth-stage startups that are enhancing products, entering new markets, and scaling nearly everything else.

Over the span of seven years, the growth fund has allocated investments to more than 100 companies, as noted by David George, a general partner leading the growth investment team, in his announcement blog. However, in this era of AI, companies are achieving the growth phase more rapidly and consuming larger amounts of capital at unprecedented valuations.

With these substantial funds, a16z is investing in enterprise and consumer AI technologies, defense technology, robotics, infrastructure hardware and software, and health technology — essentially covering the entire spectrum. In this election year, it is also significantly investing in political efforts and lobbying.

These new financial resources follow the $15 billion in new financing that a16z disclosed in January. At that time, the firm managed $90 billion in assets.