Crypto Investor Katie Haun Raises $1.5 Billion for Web3 Venture Fund

Katie Haun, a cryptocurrency investor and board member of Coinbase and OpenSea, announced that she has raised $1.5 billion for her new fund, Haun Ventures.

In a Twitter post on Tuesday, March 22, Haun briefly introduced the company and shared that the funds will be used to invest in Web3 projects.

The firm will invest through two funds, a $500 million early-stage fund and a $1 billion accelerator fund. The two funds are the largest investment vehicles ever led by a female general partner, according to PitchBook data.

The company will invest in "every layer of the web3 technology stack" and seek to support early and growth-stage projects, Haun said, adding that the company aims to reach more than a billion people with the projects it supports.

The company is also interested in shaping public opinion and government policy regarding web3 projects and encryption.

"Working with our portfolio, we will lead a global movement on web3 to dispel misconceptions, engage policymakers, highlight positive use cases, and win the hearts and minds of leaders across industries."

The Haun Ventures team includes Chris Lehane, former Airbnb vice president of communications and press secretary to Al Gore, former vice president of communications at Airbnb, Sam Rosenblum, former director of business development at Coinbase, and Jared Cohen, founder of Google technology incubation company Jigsaw, as advisors.

Haun has also brought in some talent from Andreessen Horowitz, with former partners Tomicah Tillemann and Rachael Horwitz joining her team, as well as former head of cryptocurrency media relations Nick Pacilio.

Previously, Haun spent 10 years as a federal prosecutor at the U.S. Department of Justice (DOJ), where she said she created one of the government’s first cryptocurrency task forces:

"During the course of the research, the enormous potential of these technologies quickly became apparent. Like any tool, they can be used for good or for evil, but we're just beginning to scratch the surface of the benefits."

Haun left her position at the DOJ to work in the crypto industry, joining Coinbase's board of directors in 2017 and co-leading a $2.2 billion crypto-focused venture fund with Andreessen Horowitz in June 2021. The fund is the largest venture fund of its kind.

In December, Haun announced he was leaving Andreessen Horowitz to focus on his own crypto and Web3 fund.

Venture capital firms are increasing their focus on cryptocurrencies, with research last year finding that venture capital funding reached new heights every quarter in 2021, with $25.2 billion flowing to blockchain startups, up from 31% in 2020. million dollars, an increase of 713%.