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Crypto specialist Katie Haun raises $1.5B for debut funds

Former Andreessen Horowitz GP Katie Haun has raised $1.5 billion for her new crypto-focused venture firm, the largest debut on record for vehicles led by a female GP, according to PitchBook data.

Katie Haun, a former government prosecutor who recently departed from her role as a general partner at Andreessen Horowitz, has raised $1.5 billion for her newly launched, crypto-focused venture firm.

Haun Ventures’ pair of funds represent the largest debut on record for vehicles led by a female GP, according to PitchBook data. That eclipses the $1.25 billion launch of Bond Ventures, the late-stage venture team led by Mary Meeker after the 2018 breakup of Kleiner Perkins.

Haun is the firm’s sole partner, making her firm far and away the largest in that category.

 

In a blog post, Haun said she will focus on investing in teams building the third generation of the internet, or Web3. The firm plans to deploy $500 million into early-stage startups and $1 billion into “acceleration” or later-stage opportunities.

Web3 is still in the early stages of development and usage, with initial use cases focused on decentralized projects like NFTs and “smart” contracts.

Haun said she expects that Web3 applications will expand to transportation and commerce, fashion, sports and music over the next decade. “To create a new internet that is an improvement over our current tech paradigm is a hugely ambitious project,” she wrote.

The firm intends to work with its portfolio companies to advocate for the merits of Web3 with policymakers and business leaders in all sectors.

Haun Ventures will invest in startups’ equity and the company issued cryptocurrencies or tokens.

Haun joined Andreessen Horowitz in 2018, becoming the first woman to serve as a GP of the firm. She co-led a16z’s crypto funds along with Chris Dixon.

Featured image by Vitalij Sova/Getty Images

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