Katie Haun, who co-led the crypto arm of Andreessen Horowitz (a16z) until December 2021, has raised $1.5 billion for two new crypto-focused funds for her new firm, ‘Haun Ventures’.
The crypto fund seeks to focus on Web 3.0, the future of the internet. In her post, Haun wrote:
“We’re energized by the opportunity to invest in every layer of the Web3 tech stack and will back projects in their early stages as well as when they are ready to accelerate growth.”
The Largest Debut Fund Ever by a Female VC
After leaving a16z in December 2021, Katie Haun filed a Form ADV with the SEC under the KRH Partners name. The VC firm had since been operating under the “placeholder” name until recently, when the crypto VC firm received the name Haun Ventures.
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The $1.5 billion raised for Haun Ventures has broken records to become the largest debut fund ever raised by a solo female venture capitalist. Â
The funds raised by Haun will be split between an early-stage fund and an “acceleration” fund. Early-stage investments will be allocated $500 million, while $1 billion is reserved for the acceleration fund for later-stage projects.
According to the report, Haun received backing from a16z and some of the firm’s individual partners. Haun Ventures also received backing from university endowments, charitable foundations, and family offices.
On the Flipside
- Leading tech billionaires Elon Musk and Jack Dorsey have criticized VCs and their limited partners for trying to centralize Web 3.0 sectors.
Why You Should Care
According to Katie Haun, the fund seeks to bring a new era of investors to Web 3.0, which she calls the “new era of the internet“.
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