DOJ’s probe into Andreessen Horowitz over board seats baffles VCs

The Justice Department is investigating Andreessen Horowitz for allegedly violating Section 8 of the Clayton Act by having partners on the boards of competing firms—Ben Horowitz at Databricks, valued at $190 billion, and Martin Casado at Fivetran. Regulators argue that board members receive privileged strategic information, creating a conflict of interest that could force the firm to relinquish board seats and alter founders’ expectations of VC board involvement.