Haun Ventures, a venture capital firm led by former federal prosecutor Katie Haun, aims to raise $1 billion to invest in the cryptocurrency sector. Funds scheduled to close by June 2025 will be split equally between early and late investments, with $500 million each allocated. The $1 billion target is lower than the $1.5 billion Haun Ventures raised in 2022, deployed during the slump of the crypto market, primarily after the collapse of FTX. However, the company expects new rounds to be oversubscribed despite their small targets.
Founded by Haun in 2022, Haun Ventures has now benefited from changing market conditions compared to the 2022 funding round. The company is part of a wave of large venture capital investments in the crypto space, with major companies like Andreesen Horowitz supporting its formation. Haun, a member of Coinbase’s board of directors and a background as a general partner of Andreessen Horowitz, has launched Haun Ventures to make significant investments in blockchain startups.
The company’s focus in the Crypto sector has led to several notable investments, including Bitwise’s $70 million funding round, along with investors such as electricity capital and MassMutual. Haun Ventures’ strategy remains to target both early stages and more established blockchain projects. The exact focus of future funding has not been disclosed, but industry experts have suggested that Stablecoin use has grown as a strong case in 2024, allowing industry experts to continue to be a key area of interest in 2025.
Raised in 2022, Haun Ventures’ First Fund was carefully deployed following the collapse of FTX and the overall economic downturn in the cryptocurrency market. Despite these challenges, the company’s capital was protected until 2023, but by the middle of this year, about 60% of its funds had not been paid. Haun Ventures’ major investments include the NFT platforms Zora and the Stablecoin Protocol Bridge.
Other venture capital companies, such as Paradigm and Pantera Capital, are also aiming to raise large amounts of funding in 2024. Paradigm closed its $850 million investment fund in June 2024. Industry analysts predict that Crypto VC investments in 2025 may exceed 2024 funding levels, but will not reach the peak levels seen in the 2021 bull market, where $33.8 billion was raised.
Despite the changing landscape, Haun Ventures is optimistic about the future of the crypto market. The upcoming funding round is expected to be one of the biggest in recent years, showing strong confidence in the sector’s long-term growth.