VC Andreessen Reincorporates in Nevada, Calls Delaware ‘Biased’

The Silicon Valley venture capital firm Andreessen Horowitz is reincorporating its business from Delaware to Nevada and calling for its portfolio companies to do the same — citing concerns over bias in the state “against founders and their boards.”

The firm said on Wednesday the decision was driven by growing unease with Delaware’s Court of Chancery, which it accused of injecting an “unprecedented level of subjectivity” into judicial decisions. In a blog post, legal and policy leaders from Andreessen Horowitz argued that recent rulings have undermined the business protections in the state that historically helped make Delaware the default choice for ...