Crypto VC Katie Haun, who left a16z in 2021, raises $1.5B, the largest debut fund by a female VC yet, allotting $500M for early- and $1B for late-stage startups
- Crypto investor Katie Haun has raised $1.5 billion for her new firm after a surprise departure from Andreessen Horowitz last year.
CNBCKate Rooney
Context & Ripple Effects
Haun’s new firm follows her departure from Andreessen Horowitz to focus on crypto and Web3, where her prior investments included OpenSea and Coinbase. The raise gives that investing thesis an independent platform with capital for both company formation and later rounds.
The fund was launched just before the crypto market downturn; later coverage found it had deployed roughly 30% across about 24 startups by 2023, and Haun Ventures subsequently moved to raise two additional crypto-focused funds.
First-order effects
Haun Ventures can offer crypto startups both early-stage checks and late-stage financing, rather than requiring founders to seek separate specialist investors as they scale.
Andreessen Horowitz loses a former crypto leader as an in-market competitor with a standalone fund and an investment record tied to OpenSea and Coinbase.
Second-order effects
Crypto founders gain another large dedicated source of later-stage capital, increasing competitive pressure on Andreessen Horowitz and other crypto investors for deals that fit both stages.
The $1 billion late-stage allocation makes Haun Ventures’ deployment pace consequential for later financing rounds; the later report of roughly 30% deployed across 24 companies shows that mandate translating into portfolio construction.
Third-order effects
If specialist firms continue pairing seed capital with large late-stage reserves, crypto venture investing will increasingly concentrate around managers able to finance companies through multiple rounds rather than around single-stage funds.
Haun Ventures’ later focus on financial services, AI, and alternative assets indicates that the firm’s original crypto mandate is part of a broader convergence of investment themes, not a standalone category boundary.
The trend: Crypto-focused venture firms are building multi-stage platforms and broadening toward the overlap of digital assets, financial services, AI, and alternative assets.
Introducing @HaunVentures, a firm built for the next generation of the internet. We've raised $1.5 billion across two funds to invest in web3. An exciting first step, but the real work begins now. https://mirror.xyz/...
BREAKING: Crypto investor Katie Haun has raised $1.5 billion for her first two funds. Most ever raised by a solo GP, let alone a woman solo GP. https://www.axios.com/...
This is SUCH a big deal 💪 + times are changing! 👊👊❤️ ❤️❤️ to @katie_haun. You've built an amazing rep and track record b/c of your smarts, vision, passion & heart. Pumped for the firm you're building - TY blazing a trail for others! https://twitter.com/...
I first met Katie at Coinbase in 2015 when we were looking for a GC and she was coming off the first ever crypto cases at the DOJ. She has proven to be exceptionally self transforming, later joining the Coinbase board, a16z, and now starting her own firm. Congrats Katie! https://…
A privilege and a joy to work with @katie_haun and the team at @HaunVentures (@chrislehane @sjrosenblum @TomicahTD @jamesrathmell @NickPacilio) and with the founding teams we serve. Excited for what comes next. https://mirror.xyz/...
Hugely ambitious and amazing move by @katie_haun @RachaelRad and team. Their approach to adding to the broader ecosystem by influencing policy and public opinion is such a great move. 🚀 https://twitter.com/...
Kathryn Haun is a powerhouse, and she's now wielding a $1.5b war chest and aided by top-tier partners/allies. But more importantly, the ideas she articulates in this introductory blog post are ideas that can spread and resonate throughout society. https://twitter.com/... https://…
The money keeps pouring into Web3, something that doesn't even exist. Katie Haun has gone from being a regulator to showing firms how to avoid regulations, so they can capitalize on tokens. https://twitter.com/...
Congrats to @katie_haun, @TomicahTD and the whole team at @HaunVentures! 🎉 Love the framing in this inaugural blog, about how being a VC in crypto is about being a contributor and how they'll focus on community participation 👏🏻 https://twitter.com/...
Congrats to @katie_haun on her new fund. Fortunate to have worked alongside her on the board at leading Bug Bounty company @Hacker0x01 (where she was amazing). Certainly knows how to spot the market leader! https://twitter.com/...
“I feel like my highest and best use right now is in the crypto ecosystem. There's a need for a lot of bridges to be built between different worlds.” https://www.wired.com/...
NEW: Katie Haun has raised $1.5 billion for a pair of crypto-focused VC funds, just months after leaving Andreessen Horowitz to form her own firm. This is the most money ever raised by a solo venture capitalist, let alone by a solo female VC. https://www.axios.com/...