a16z launches new fund and offers wealth management services.

According to a disclosure on the SEC website on June 23, BlockBeats reported that a16z has created a new fund to continue its business development. The new fund, called "a16z Perennial Venture Capital Fund", will operate at a16z's Menlo Park office. In addition, the venture capital firm has registered its "Perennial Management" business with the US regulatory agency. According to the ADV document with the SEC, it is listed as a "large consulting firm" with assets under management (AUM) of $105 million. The business unit already has 18 high net worth individuals as clients. According to the document, it will provide consulting services such as investment portfolio management for individuals, small businesses, and collective investment tools, as well as private fund managers, wealth management advisors, and financial planners. The new department has 8 employees, including Chief Investment Officer Michel Del Buono, who was hired last year.