Andreessen Horowitz’s Cultural Leadership Fund (B): Kevin Hart and Clubhouse

In May 2020, Andreessen Horowitz secures an agreement with Clubhouse, one of Silicon Valley’s hottest startups, to lead its ‘Series A’ funding round. One of the factors that insiders saw as pivotal in the race to be Clubhouse’s VC firm of choice was Andreessen Horowitz’s ability to secure celebrity appearances on the app, most notably by stand-up comedian and actor Kevin Hart, a limited partner in the VC firm’s Cultural Leadership Fund. After being responsible for what would turn out to be a key moment in the race between competing VC firms, Hart – with his production company HartBeat Ventures – now was first in line to invest in Clubhouse. “I’m an entrepreneur at heart, and venture capital is a world I’m now in love with. And I love the fact that HartBeat Ventures has a chance to align itself with a powerhouse like Andreessen Horowitz,” said Hart. “Things make sense when they are supposed to, and joining the Cultural Leadership Fund was a move that made sense. Of course, as we gain success, we can do more and we can want more.” How exactly does Andreessen Horowitz and its Cultural Leadership Fund creates value for Black cultural leaders like Hart? And does it provide a compelling proposition for them in the long run as well?