According to TechCrunch, according to a document submitted to the U.S. Securities and Exchange Commission (SEC) last week, venture capital firm a16z has created a new fund called "a16z Perennial Venture Capital Fund", which will operate in a16z's Menlo Park office. In addition, a16z has also registered a new consulting company "Perennial Management". According to the ADV document submitted to the SEC, the company's assets under management are US$105 million and it currently has 18 high-net-worth clients. The document shows that the company will provide consulting services such as portfolio management to individuals, small businesses and private fund managers. The new company has a total of 8 employees, including Chief Investment Officer Michel Del Buono, who joined last year.