Reports said that Katie Haun, the crypto investor and board member for Coinbase and OpenSea, has announced that she had raised $1.5 billion for her new fund, Haun Ventures.
It has been reported that Haun posted an article on Twitter, briefly introducing the firm and sharing that the funds would be used to invest in Web3 projects.
However, the firm will invest through two funds: a $500 million early-stage fund and a $1 billion acceleration fund. The two funds represent the largest debut on record for investment vehicles led by a female general partner. Haun stated that the firm will invest in “every layer of the web3 tech stack,” and seeks to back projects in both their early and growth stages, adding that the firm aims to have the projects it supports reach over one billion people.
The report said that the firm is also interested in shaping public opinion and government policy regarding Web3 projects and crypto.
The firm added:
“We will partner with our portfolio to lead a global campaign for web3 that combats misperceptions, engages policymakers, highlights positive use cases, and wins the hearts and minds of leaders across all sectors.”
Likewise, the Haun Ventures team consists of former communications vice president at Airbnb and press secretary for vice president Al Gore Chris Lehane, former director of business development at Coinbase Sam Rosenblum and founder of Jigsaw, Google’s tech incubation company, Jared Cohen serving as an adviser.
Haun has also brought talent with her from Andreessen Horowitz: Tomicah Tillemann and Rachael Horwitz, both former partners, and Nick Pacilio, former head of media relations for crypto, also joining her team. Previously, Haun served as a federal prosecutor for 10 years at the United States Department of Justice (DOJ) where she created one of the government’s first cryptocurrency task forces.
She said:
“In the course of that work, the vast potential of these technologies quickly became clear. Like any tool, they could be used for good or for bad, but we had just started to scratch the surface of the good.”
Moreover, she left her role at the DOJ and pursued a career in crypto, joining the board of directors for Coinbase in 2017. In June 2021, she co-led at Andreessen Horowitz a $2.2 billion crypto-focused venture fund, the largest ever of its kind at the time. In December of last year, Haun announced her departure from Andreessen Horowitz to focus on her own crypto and Web3-focused fund.
Thus, venture capital firms are increasing their focus on crypto, as research from last year found that VC funding reached new heights in every quarter of 2021 with $25.2 billion going to blockchain startups, a 713% increase from $3.1 billion in 2020.
Source: Cointelegraph
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