VC firm Andreessen Horowitz announced that it has raised $1.5 billion for its Fund III.

Co-founder and general partner Ben Horowitz explains, “Fund III is all about extending our capabilities to more disruptors and pioneers. We’re remaking the modern venture capital firm, and entrepreneurs are responding to our unique approach.”

The firm has raised $2.7 billion since its founding in June 2009. Its portfolio consists of 90 tech companies. These include Facebook, Twitter, Foursquare, Groupon, Digg, Instagram, Skype, Zynga, Pinterest, and Airbnb, to name a few.

The new funding should help aid some more future household names.

“Software is the catalyst that will remake entire industries during the next decade,” says co-founder and general partner Marc Andreessen. “We are single-mindedly focused on partnering with the best innovators pursuing the biggest markets.”

Horowitz wrote a lengthy blog post about not only the funding, but really history of the firm and an essay about its philosophies. For example, he writes:

Marc and I share a simple belief that became the basis for our new venture capital firm: in general, founding CEOs perform better than professional CEOs over the long term, and a venture capital firm that enables founding CEOs to succeed would help build the best companies and yield superior investment returns.

The firm says Fund III is available to be deployed immediately.