Key Takeaways
- • Haun Ventures, the crypto-focused venture firm founded by former federal prosecutor Katie Haun, raised $1.5 billion across two funds, according to Bloomberg.
- • The firm announced a $500 million early-stage fund and a $1 billion fund for more mature startups, both focused on web3.
- • The launch follows Haun's departure from Andreessen Horowitz (a16z), where she led its crypto investing efforts.
- • Web3 is defined in the coverage as a more decentralized internet built on blockchain technology, cryptocurrencies and nonfungible tokens (NFTs).
Summary
Former federal prosecutor Katie Haun is establishing herself as a significant force in crypto investing after her new venture capital firm, Haun Ventures, raised $1.5 billion, according to Bloomberg. The firm announced the capital raise on Tuesday, March 22, 2022.
The raise comprises two vehicles. A $500 million early-stage fund will back nascent companies, while a $1 billion fund will target more mature startups. Both funds focus on web3, which Bloomberg describes as a more decentralized vision of the internet powered by blockchain technology, cryptocurrencies and nonfungible tokens.
The fundraising comes shortly after Haun's exit from Andreessen Horowitz (a16z), the Silicon Valley venture firm where she had built its crypto practice. Her departure and immediate launch of a $1.5 billion platform signal strong institutional appetite for dedicated crypto venture strategies, even amid broader volatility in digital asset markets.
For allocators, the transaction is notable for its scale. A $1.5 billion first-time raise for a crypto-specialist venture firm underscores that limited partners are willing to commit substantial capital to web3 exposure through blind-pool venture structures rather than direct token holdings.
The raise comprises two vehicles. A $500 million early-stage fund will back nascent companies, while a $1 billion fund will target more mature startups. Both funds focus on web3, which Bloomberg describes as a more decentralized vision of the internet powered by blockchain technology, cryptocurrencies and nonfungible tokens.
The fundraising comes shortly after Haun's exit from Andreessen Horowitz (a16z), the Silicon Valley venture firm where she had built its crypto practice. Her departure and immediate launch of a $1.5 billion platform signal strong institutional appetite for dedicated crypto venture strategies, even amid broader volatility in digital asset markets.
For allocators, the transaction is notable for its scale. A $1.5 billion first-time raise for a crypto-specialist venture firm underscores that limited partners are willing to commit substantial capital to web3 exposure through blind-pool venture structures rather than direct token holdings.
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