Crypto Investor raises $1.5 billion for her new firm
The Funds Is the largest initial fund ever raised by a solo female
Katie Haun, a crypto investor who left Andreessen Horowitz, has secured $1.5 billion for her new fund, thus breaking a previously held record in the process.
Haun Ventures’ launch represents the largest debut venture fund ever raised by a single female founding partner. After spinning out of Kleiner Perkins, former investment banker Mary Meeker set the previous record with a $1.3 billion fund.
“It seems like a lot of pressure, to be honest.” But I think it pushes everyone on the organization,” Haun said in her first television interview since leaving Andreessen Horowitz. “Web3 is a new internet age, and it needs a new era of investors.”
Web3, also known as Web 3.0, refers to general computer applications based on the blockchain, which is the same technology that underpins bitcoin and other cryptocurrencies.
The firm will invest in both start-up equity and, in certain circumstances, in the cryptocurrencies (also known as tokens) created by such start-ups.
“Through my involvement in the deployment of three previous crypto funds, I’ve learnt that there’s still a lot of promise in crypto and Web3 equity business models, as well as token business models,” she added. “I don’t believe you can truly be a crypto investor if you don’t own tokens.”
Many in Silicon Valley were taken aback by her departure. Despite the fact that it was a “dream job,” Haun stated she left to “take greater risks” and “move out of her comfort zone.”
“Of course, there’s friendship there, and there’s a bond there.”
She stated, “We still aim to work closely with Andreessen Horowitz.”
“Because of our fund’s scale, we don’t have to lead every deal; we can work well with a number of different crypto investors — entrepreneurs don’t want a single investor on their cap table, especially in the early stages.”
While cryptocurrencies are failing to recover traction, private company funding is at all-time highs.
“I see it as Web3 finally getting some of the deserved criticism in the area,” Haun remarked.
“If I had to pick between Jack Dorsey expressing some critiques and some of the myths that have been perpetuated in the sector for so long, I would choose the former.”
As a result, I believe that discussion is beneficial.”