Will Adreessen Horowitz Back Foursquare’s New Round?

According to a report in the Wall Street Journal, Foursquare is looking to raise an additional $20-40 million this summer at a $500 million valuation.

Betabeat chatted with several sources this week who suggested that the company would definitely be returning to previous backers Union Square Ventures and Adreessen Horowitz for some of this new capital.

Dennis Crowley just got back from a West Coast tour where he visited Apple and was spotted dining with Google. Today Foursquare’s head of recruiting checked in along Sand Hill Road at Andreessen Horowitz.

Got any more insight?