Protocol | Fintech

Andreessen hires Goldman exec as a new investor

David Haber, who founded Bond Street, is joining as a general partner to make more fintech deals.

​David Haber is Andreessen Horowitz's new fintech partner.

David Haber is Andreessen Horowitz's new fintech partner.

Photo: Andreessen Horowitz

As startups drill ever deeper into trying to compete with banks, Andreessen Horowitz has added a new fintech-focused general partner: David Haber, a former Goldman Sachs executive and entrepreneur.

Haber founded small-business lending startup Bond Street, which saw most of its employees join Goldman in 2017 as part of the bank's efforts to expand its lending efforts. Bond Street offered one- to three-year loans of up to $1 million.

Haber went on to work on a variety of fintech issues at Goldman as a vice president of firmwide strategy, including venture investments in Carta (with Andreessen Horowitz) and Argentine bank-app maker Ualá. He also worked on partnerships and other issues for Stephanie Cohen, then the firm's chief strategy officer.

Haber, who is based in New York, was an investor at Spark Capital prior to Bond Street, working on investments in companies such as Plaid, Warby Parker, Twitter and Tumblr.

In addition to small business and lending, Haber is interested in range of areas in fintech from enterprise software to the "API-ification of infrastructure" to capital markets to international deals, he said.

Fintech often involves working across different areas, such as consumer and enterprise, Haber said. "Opportunities live between fields of expertise. And I personally really enjoy exploring those intersections, and that's one of the things I'm super excited about joining the team," he said.

Andreessen Horowitz has been building out its fintech team, and its portfolio includes Robinhood, Coinbase, Affirm, Plaid and Stripe.

Fintech companies are seeking bigger targets than they did 10 years ago as more startups take on big companies in areas such as banking, insurance or real estate, said Alex Rampell, general partner at Andreessen Horowitz.

"The scale of ambitions just tends to be a lot bigger for companies now. It's, 'Hey, you know what, why don't we beat Bank of America?' That's what Chime is going for. Chime's not trying to sell software to Bank of America. They're trying to beat Bank of America," Rampell said.

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Photo: David Paul Morris/Bloomberg via Getty Images

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Aisha Counts (@aishacounts) is a reporting fellow at Protocol, based out of Los Angeles. Previously, she worked for Ernst & Young, where she researched and wrote about the future of work, emerging technologies and startups. She is a graduate of the University of Southern California, where she studied business and philosophy. She can be reached at acounts@protocol.com.

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