Kathy Haun, a cryptocurrency investor and board member of Coinbase and OpenSea, announced that she has raised $1.5 billion for her new Haun Ventures fund.
On Tuesday, March 22, Haun tweeted an article briefly introducing the firm and revealing that the funds would be used to invest in Web3 projects.
Introducing @HaunVentures, a firm built for the next generation of the Internet. We have raised $1.5 billion through two funds to invest in web3. An exciting first step, but the real work begins now. https://t.co/tBeE4OEJkD — Kathryn Haun (@katie_haun) March 22, 2022
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 of investment vehicles led by a female general partner, according to PitchBook.
Haun said the firm will invest in “every layer of the web3 technology stack” and is committed to supporting projects both in the early stage and in the growth stage, adding that the firm aims to ensure that the projects it supports reach more than 1 billion people. .
The firm is also interested in shaping public opinion and public policy regarding web3 and cryptocurrency projects.
“We will partner with our portfolio to spearhead a global campaign for web3 that fights misconceptions, engages policy makers, highlights positive use cases, and wins the hearts and minds of leaders across all sectors.”
The Haun Ventures team consists of Chris Lehane, former VP of Communications for Airbnb and spokesperson for VP Al Gore, Sam Rosenblum, former director of business development for Coinbase, and Jared Cohen, founder of Jigsaw, a Google incubator company, serving as an advisor .
Haun also brought talent from Andreessen Horowitz with her, with Tomika Tillemann and Rachel Horwitz former partners, and Nick Pacilio, former Head of Cryptocurrency Media Relations, who also joined her team.
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Previously, Haun served as a federal attorney for 10 years at the U.S. Department of Justice (DOJ), where she says she created one of the first government cryptocurrency task forces:
“In the course of this work, the enormous potential of these technologies quickly became apparent. Like any tool, they could be used for good or bad, but we’ve only just begun to scratch the surface of good.”
Haun left her position at the Department of Justice and pursued a career in cryptocurrencies, joining the board of directors of Coinbase in 2017, and in June 2021, together with Andreessen Horowitz, led a $2.2 billion cryptocurrency-focused venture capital fund, the largest of its kind. kind in history. time.
Last December, Haun announced her departure from Andreessen Horowitz to focus on her own cryptocurrency and Web3-focused fund.
Venture capital firms are increasingly focusing on cryptocurrencies. Last year’s research showed that venture funding reaches new heights in every quarter of 2021, with $25.2 billion going to blockchain startups, up 713% from $3.1 billion in 2020.