Famed crypto investor Katie Haun launches own VC fund

Posted: 16 December 2021 7:00 pm

The Andreessen Horowitz star is sticking with crypto and Web 3.0, though. Also: A startup her current fund is backing now.

One of the world’s most influential crypto venture capitalists, Katie Haun, has announced she is going out on her own. But she remains firmly behind crypto and Web 3.0.

Haun, one of the driving forces for crypto investing in Silicon Valley, helped put Andreessen Horowitz on the crypto map.

She was the first female general partner hire for a16z, Andreessen Horowitz’s set of crypto funds, and previously had led investigations into cryptocurrency as a federal prosecutor for the Department of Justice.

In a statement made to Twitter, Haun confirmed she was leaving Andreessen Horowitz. She will retain her board seats at Coinbase and OpenSea.

“Today, @cdixon and I shared with the @a16z crypto team that I will be launching my own fund focused on crypto and Web 3.0 early next year,” the tweet said.

She confirmed that the crypto fund she is currently launching for Andreessen Horowitz will be her last for the firm.

“When Chris and I started our first crypto fund in 2018, it was a moonshot experiment. Thanks to the hard work of many, it has exceeded both of our wildest expectations. Today, it’s more apparent than ever that [Web 3.0] will transform the Internet,” she added.

What is Haun’s fund doing?

Unsurprisingly, the famed crypto investor is going to remain in the sector. According to her Twitter thread, she is launching a crypto- and Web 3.0-focused venture capital fund, although she has not confirmed specifics.

“This is an exciting new chapter,” Haun told Twitter.

“I’ll share more details about the fund with the community later in the new year. In the meantime, wishing you all a very happy and healthy holiday season!”

What will happen to a16z crypto funds

In another tweet thread, co-founder of a16z’s crypto funds Chris Dixon confirmed he will continue to manage the $2.2 billion fund in Haun’s absence.

Anthony Albanese will continue to lead operations, while legal will be driven by Miles Jennings, Jai Ramaswamy, Bill Hinman and Brian Quintenz.

Andreessen Horowitz also confirmed they will continue their relationship with Haun by investing in her new fund.

“We are deeply grateful to Katie and all she contributed to a16z,” Dixon tweeted.

“We’ll be anchor LPs (limited partners) in her new fund and expect to closely collaborate on policy initiatives.”

How a16z is handling the crypto downturn

Following all-time price highs on November 10, the crypto asset economy fell more than 20%, officially entering a bear market. Bitcoin (BTC) fell from $69,000 down to a low of $43,972 and is currently trading around the $47,000 mark.

As is usually the case, Bitcoin’s fall has spread to the rest of the crypto market. Currently, the most heavily traded coins are down anywhere from 25% to 30%.

Despite the downturn, a16z remains bullish on Web 3.0 and its current strategy.

A16z recently announced it was a supporter of Mysten Labs’ $36 million series A funding round.

Tech startup Mysten is building foundational infrastructure for Web 3.0, helping to develop and adapt decentralized services. It is set to launch a non-fungible token (NFT) platform.

In a statement, a16z general partner Arianna Simpson said Mysten has the technology and expertise to make major improvements across multiple chains.

“Allowing developers to focus on perfecting their user experience, without tackling the complexities of lower-level blockchain integrations, is key to enticing more Web 2 talent to start building Web 3.0 applications,” she said.

“It would be hard to dream up a more perfect team for this endeavor. The founding team has extensive experience in Web 3.0, programming languages, distributed systems and cryptography.”

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