UV Investor Activity Slows in April, But Andreessen Horowitz Still Leads
April saw a dip in startup funding deals, with only a few UV investors maintaining high activity.
Startup funding in April showed signs of a slowdown, with many UV investors stepping back. Despite the overall drop, Andreessen Horowitz and Khosla Ventures were the only firms to close more than ten deals during the month.
Andreessen Horowitz Leads as Top UV Investor
Andreessen Horowitz led the way with 13 deals — its highest monthly total since January. The Menlo Park-based UV investor participated in several major rounds, including Base Power’s $200 million Series B. The Austin startup provides backup power systems that charge batteries when electricity prices are low. Other investors in the round included Addition, Lightspeed Venture Partners, and Valor Equity.
The firm also led a significant funding round for Flow, a residential real estate company founded by WeWork’s Adam Neumann. That round exceeded $100 million and valued Flow at $2.5 billion, according to Bloomberg.
Advertisement
We’re now accepting
Paid Promotions & Sponsorships
Khosla Ventures Follows with Strong Momentum
Khosla Ventures made 10 investments in April, its highest count since April 2024. The UV investor led Science’s $104 million round. Science, a biotech startup based in Alameda, is developing brain and retina implants and was co-founded by a former Neuralink team member.
Khosla also took part in Cyberhaven’s $100 million Series D, valuing the data security firm at $1 billion, and joined Mainspring Energy’s $258 million Series F. Mainspring makes power generators, a business attracting UV investors as AI drives up energy demand.
General Catalyst Sees Slower Month
General Catalyst completed 9 deals, a drop from its previous pace of 26 over February and March. Still, the UV investor led Mainspring Energy’s large Series F and co-led smaller rounds for Vivere Partners, a specialty insurance startup, and Fourier, a hydrogen energy company.
Other Notable UV Investor Activity
- BoxGroup and Index Ventures followed closely with 8 deals each.
- Ocampo Capital led or co-led 7 deals — the highest among UV investors for leadership involvement.
- Greenoaks Capital Partners led the largest round of the month, heading Safe Superintelligence’s $2 billion raise at a $32 billion valuation.
- Y Combinator remained the most active accelerator, backing 22 startups in April.