Haun Ventures, the crypto-focused investment firm founded by Katie Haun, a former Andreessen Horowitz (a16z) general partner, is reportedly planning to raise $1 billion for two new funds.
This move, revealed in a recent Fortune report, could potentially position it as the largest venture financing deal since the start of President Donald Trump’s second term.
With a target closure in June 2025, Haun intends to evenly split the capital—$500 million for early-stage crypto projects and $500 million for late-stage ventures—mirroring the structure of her inaugural $1.5 billion raise in 2022.
Haun Ventures emerged during a key moment for crypto fundraising, a period that saw a16z Crypto, one of its key backers, secure a record-breaking $4.5 billion.
That 2022 haul for Haun Ventures reportedly made history as the largest debut fund ever raised by a solo female venture capitalist.
However, the timing of that launch coincided with the extended crypto bear market (and major downturn in prices, valuations, and overall investor sentiment), triggered in large part by the spectacular collapse of FTX in late 2022.
Rather than rushing to deploy its initial $1.5 billion over the planned two-year timeline, Haun Ventures appears to have adopted a more balanced, cautious stance.
By mid-2023, roughly 60% of its capital remained uninvested, a strategic pause that allowed the firm to weather the storm and reassess opportunities.
Before founding Haun Ventures, she was working as a general partner at a16z, where she co-led its crypto efforts, and served on Coinbase’s board until stepping down last year.
Her earlier career as a Justice Department prosecutor—where she tackled high-profile cases like the Silk Road investigation—equipped her with a blend of regulatory insight and financial expertise.
Her track record includes investments like NFT platform Zora as well as the stablecoin protocol Bridge, the latter recently snapped up by Stripe for $1.1 billion, signaling her knack for spotting winners.
The current $1 billion raise arrives at a pivotal moment for crypto.
President Trump’s vocal support for the industry—including a Thursday pledge to make the U.S. the “crypto capital of the world”—marks a stark shift from years of regulatory uncertainty under the Biden Administration.
This new environment could potentially unlock more positive momentum for blockchain innovation, a development Haun Ventures aims to capitalize on.
The firm’s balanced approach, targeting both nascent startups and more mature projects, reflects a calculated strategy to diversify risk while capitalizing on the sector’s long-term potential.
Haun Ventures’ latest move underscores its adaptability to a fast-evolving web3 space.
While the 2022 crypto market crash tested the firm’s resilience, its calculated, measured deployment and strategic moves indicate that meaningful progress can be made.