Katie Haun, a prominent crypto investor, is planning to raise $900 million for two cryptocurrency investment funds. This could be a significant debut for a venture capital firm.
Katie Haun’s Target High for First Venture Firm
Financial Times reports that Haun will be leaving As a Partner at Andreesen Hoowitz (a16z) and has ambitious goals for her new venture company. The $300 million investment fund that was initially intended for cryptocurrency startups has been doubled by the investor. $600 million of additional capital will be raised to support larger companies and digital tokens.
According to reports, Haun was also a target for wealthy and high-profile investors. She has therefore set a high goal and plans to target institutions next week. VCs around the globe have discovered cryptocurrency startups to be a lucrative investment area.
Haun, who was the first female general partnership Andreessen Horowitz, announced her departure in December 2013 and said that she had started her own venture capital firm, KRH. In her four-year stint at the company, Haun managed to raise multiple cryptocurrency-focused funds. She has participated in OpenSea’s $300 Million funding round earlier this week through her new company.
FT reported that Andreessen will work with KRH to support founders in the sector, continue their web3 policy program, and also help fund projects. Haun will also help to invest the remaining $2.2 billion in funds from the California-based VC company.
2021 Edition: VCs and Crypto-Startups
Venture capital has provided funding for more than $32 Billion to businesses that focus on blockchain and cryptocurrency technology in 2021 CryptoPotato reported earlier that investment from VCs saw a 450% increase in investments compared with the previous year.
As the market was at its lowest point, only a few VC investments were made in 2020. According to reports, venture capitalists invested less than $6 billion that year. The trend has changed since crypto startups have become hugely profitable in recent years. The approval of Bitcoin exchange traded funds (ETFs) in different parts of the globe was one of the key contributors to this trend.
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