Venture capital firm Andreessen Horowitz has pledged to donate half of their venture capital income to charitable causes. The pledge is part of The Giving Pledge, a campaign started by Warren Buffet and Bill and Melinda Gates, which encourages the world’s wealthiest individuals and families to commit to giving away the majority of their wealth to philanthropy. Marc Andreessen and Ben Horowitz, the firm’s founders, have agreed to donate at least half of all income from their venture capital activities, including carried interest and any investment returns. The firm’s six general partners have also committed to the pledge. Andreessen Horowitz’s commitment is notable as it is the first venture capital firm to make such a pledge. The firm has a history of charitable giving, having previously donated over $1m to various Silicon Valley charities. The Giving Pledge does not collect funds or direct donations; instead, it is a moral commitment to give.
Go to source article: http://fortune.com/2012/04/25/andreessen-horowitz-to-give-half-their-earnings-to-charity/