According to sources familiar with the matter, federal officials are examining whether the firm’s partners are violating competition laws by holding board seats at rival artificial intelligence companies.
The probe specifically highlights the roles of co-founder Ben Horowitz on the board of Databricks Inc.
and partner Martin Casado on the board of Fivetran Inc.
The investigation is significant because both Databricks and Fivetran operate in the same critical sector of the AI economy, providing tools that help businesses collect and organize the massive data sets required for machine learning.
Antitrust regulators are scrutinizing "interlocking directorates"—a situation where individuals serve on the boards of competing firms—due to concerns that such arrangements could lead to price-fixing, reduced innovation, or the sharing of sensitive competitive information that harms the broader market.
As the inquiry proceeds, it places one of Silicon Valley’s most influential investors under intense regulatory pressure during a period of rapid AI infrastructure growth.
The outcome could affect how venture capital firms manage their portfolios and board appointments across the technology industry.
Both Databricks and Fivetran remain central to the modern data stack, and any forced changes to their leadership structures could impact their strategic direction as they compete for dominance in the AI sector.