Andreessen Horowitz is discontinuing its Talent x Opportunity (TxO) fund and program, according to four sources familiar with the matter, including more than one founder in the program.
The company announced TxO in 2020 to support founders who do not have access to traditional business networks. Many of the TxO participants were women and minorities who, overall, receive very small amounts of venture capital.
The fund’s announcement came during a wave of support for underrepresented founders in 2020 following the killing of George Floyd. The fund started with initial commitments of $2.2 million, TechCrunch previously reported, with a16z co-founder Ben Horowitz and his wife, Felicia, matching an additional $5 million.
TxO provided the founders with access to technology networks, a 16-week training program and a $175,000 investment through a donor-advised fund managed by the nonprofit Tides Foundation. The program went on to support more than 60 companies (such as media brand Brown Girl Magazine, food technology Myles Comfort Foods and maternity technology Villie).
TxO garner some criticism when it started because it is technically structured more as a non-profit, rather than a traditional investment fund. Those who invest in the fund are considered donors and the money given is considered charitable donations rather than traditional limited partner investments.
However, founders who took part in the program and spoke to TechCrunch said it provided them with invaluable support and opportunities they wouldn’t have had access to otherwise. Last year, TxO expanded to launch a grant program, awarding $50,000 to three tech nonprofits that support is underserved founders.
TxO has announced — as of now — the latest cohort of the program at early March 2025. Founders participating in the program received an email on October 16 from Kofi Ampadu, the a16z partner who led TxO, announcing that the program would be discontinued.
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“When we started TxO, the mission was clear: to support talented, determined makers who build companies that shape culture but may not have access to typical Silicon Valley networks and resources,” Ampadu’s email read, as seen by TechCrunch. “While that purpose has not changed, we are discontinuing our existing program to improve how we deliver it.”
The rest of the email read as follows:
Over the past five years, we’ve experimented with different models to best serve founders — from virtual and in-person programming to curriculum design and funding structure. As we review the continuum, we’ll apply everything we’ve learned and evolve how we support founders by integrating a16z’s broader early-stage investment and company-building strategy.
TxO has supported more than 60 companies and nearly 100 founders. You’ve collectively raised tens of millions in trailing capital and reached customers across culture and lifestyle. Founders from earlier groups are now mentoring newer ones and that peer support has strengthened the entire community.
Thank you for being at the center of this community. Your progress is proof of what it is possible. Stay tuned for what’s next. In the meantime, if you have any questions, please feel free to contact us directly.
Sincerely,
Kofi
A16z confirmed to TechCrunch that the program was ending and that Ampadu notified participants via email.
Members of TxO’s staff team, which numbered at least three people excluding Ampadu, were also let go, according to two sources, with the end of October being their last week.
The fund’s application documents did not specifically require the diversity of the founders, except in terms of “cultural authenticity,” and also emphasized classic startup investment criteria such as market size and ability to execute. But the announcement of the fund 2020 made it clear that it was “for entrepreneurs who haven’t had access to the fast track in life, but have great potential. Their products can be non-tech or tech; they should come from underserved communities (all backgrounds welcome).
However, many in the startup world see TxO as an accelerator for diverse talent, and several people who spoke to TechCrunch pointed out that its hiatus comes as top names in tech eliminate, cut back, reformulate or completely walk away from previous public commitments related to diversity, equality and inclusion. The Trump administration has threatened legal and political consequences for businesses that support anything that could be considered DEI.
Others, however, noted that a16z is still interested in accelerator-style startups. Earlier this year, this one Speedrun was releaseda program that promises cohort tiers of up to $1 million in investment.
