Andreessen Horowitz closed on $7.2 billion for its newest set of funds, Axios has learned.

Why it matters: Even in a muted fundraising environment, legacy firms can beat their own fundraising goals (a16z's marketing had cited a $6.9 billion target).

Zoom in: As Axios previously reported, the firm created a masterfund vehicle, though limited partners are not required to invest through it.

• About half of the targeted capital was aimed for its growth fund, though a16z ultimately raised $3.75 billion for it.
• Instead of dedicated seed or early-stage funds, it's splitting them in sectors. It raised $1.25 billion for its AI infrastructure allocation (originally targeting 15%), $1 billion for AI apps (also initially targeting 15%), and $600 million for its "American Dynamism" strategy (an original target of 10%).
• Lastly, it raised $600 million for its second gaming fund, which was targeted as 10% of the fund.

The firm did not respond to a request for comment.

Editor's note: The story has been updated with details about the capital raised for each allocation.