The Menlo Park-based VC firm said it was also promoting partner Arianna Simpson to lead its $2.2bn crypto fund, the largest in the world.
Former Intel CEO Bob Swan is joining venture capital firm Andreessen Horowitz as an operating partner for its early-stage growth fund, the firm announced yesterday (19 July).
Swan will be responsible for identifying new investment opportunities, serving on boards and guiding founders in the Andreessen Horowitz portfolio.
The move comes five months after Swan stepped down as Intel CEO. Announcement of his departure came a month after billionaire investor Daniel Loeb asked the chair of Intel’s board for a change in leadership last December.
Pat Gelsinger, former CEO of VMware, then replaced Swan as Intel’s chief executive.
As CEO and CFO of Intel, Swan oversaw about $78bn in sales and increased annual sales by more than $20bn. Before joining Intel, he was CFO of online auction giant eBay, where he is still a board member.
Andreessen Horowitz, headquartered in Menlo Park, California, was founded in 2009 by venture capitalists Marc Andreessen and Ben Horowitz. It invests in both early-stage start-ups and established growth companies.
Also known as a16z, Andreessen Horowitz holds about $7.9bn in regulatory assets under management across two growth funds.
“As CEO of one of the largest B2B companies in the world, and CFO/board member of one of the most important internet marketplaces and fintech companies in the world, Bob will be an invaluable partner to us and our portfolio companies,” wrote Andreessen Horowitz general partner David George in a public announcement.
Swan previously worked closely with Andreessen Horowitz on a Skype acquisition deal in 2011, the firm said.
“As someone whose humility is unmatched among executives in our network, we are excited about the experience Bob brings to the firm as well as his collaborative approach to work,” said George.
Simpson, who launched her own venture capital firm at 24, joined Andreessen Horowitz last year as a deal partner.