How can I see an investor’s new vs. follow-on investments (and identify potential “zombie VCs”)?

By viewing the New vs. Follow-on graph on an investor profile, you can see if an investor is investing in new companies, or simply in ones in which they’ve already invested. This may be an indicator of whether they have dry powder available (which they’re using to invest in new companies) or not.  

For this example, let’s look at Andreessen Horowitz’s profile.

Step 1 - Log in to CB Insights

  • At the top right, search an investor name to go to their profile.

Step 2 - Go to Investor Analytics tab

  • Once on the investor’s profile page, click the Investor Analytics tab.

Step 3 - View the New vs. Follow-on graph

  • Click New vs. Follow-on on the left, which shows the number of new (blue) vs. follow-on (orange) investments made by Andreessen Horowitz each quarter.
  • A graph that shows mostly orange bars (follow-on investments) could indicate that an investor is having a tough time raising new funds and thus not able to invest in new companies.  They may be a “zombie VC.”


  • Mouse over any bar in the graph to see the respective number of new vs. follow-on deals for that quarter.
  • Click on any bar in the graph to reveal underlying company and financing details.

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