Haun Ventures Aims for Another Billion-Dollar Crypto Fundraise

Haun Ventures, the cryptocurrency-focused venture capital firm founded by former federal prosecutor Katie Haun, is reportedly seeking to raise $1 billion for two new funds, according to a report by Fortune.

Sources familiar with the matter told Fortune that the new capital will be split evenly, with $500 million allocated to early-stage blockchain startups and another $500 million earmarked for late-stage investments. Haun Ventures is reportedly aiming to close this latest fundraise by June. A spokesperson for the firm declined to comment on the report.

Katie Haun, the founder and CEO of Haun Ventures, has established herself as a prominent figure in the crypto venture space. Prior to launching her own firm, Haun was a general partner at Andreessen Horowitz ( a16z ), where she co-led the firm’s three crypto funds. Her experience also includes serving on the board of directors of Coinbase from 2017 to 2024, joining as the first independent board member and remaining through the company’s public listing.

Before her venture capital career, Haun spent a decade as a federal prosecutor, specializing in fraud, cyber, and corporate crime, working alongside agencies such as the SEC, FBI, and Treasury. Notably, she created the government’s first cryptocurrency task force and led investigations into significant events like the Mt. Gox hack and the corrupt agents involved in the Silk Road task force.

Haun Ventures launched at the peak of the previous crypto bull market, securing $1.5 billion in its initial fundraise – the largest ever for a first-time female venture capitalist. This capital was divided into a $500 million early-stage fund and a $1 billion late-stage fund. The firm has since focused its investments largely on crypto infrastructure projects, with notable investments including the stablecoin startup Bridge (which was later acquired by Stripe for $1.1 billion) and the NFT platform Zora. Haun Ventures has also backed the stablecoin firm BVNK and invested in secondaries of crypto unicorns Chainalysis and Fireblocks. According to Fortune's sources, Haun Ventures is currently close to deploying the remaining capital from its initial funds.

The new fundraising effort positions Haun Ventures to be one of the largest capital raisers in the crypto venture space in the past two years, following Paradigm's announcement of an $850 million third fund in 2024. A source close to Haun Ventures indicated to Fortune that while the overall target is smaller than the previous raise, reflecting current market trends, the two new funds are likely to be oversubscribed.

Katie Haun will be managing these new funds during a pivotal time for the crypto industry. While the sector is experiencing renewed optimism, partly attributed to a perceived more supportive stance from the Trump administration, the prices of major cryptocurrencies have also faced volatility due to uncertain macroeconomic conditions.