Katie Haun, a General Partner of Andreessen Horowitz (also known as a16z), and one of the founders of the digital asset arm of the company, announced that she would be leaving the firm in the early part of next year. She will start a venture capital fund that focuses on cryptocurrencies as well as Web3 startups.
Jumping into New Crypto Adventure
On Twitter, the cryptocurrency investor announced that she would be leaving a16z by early 2022. Chris Dixon, Co-Founder of the digital assets venture, will be leading the unit with three partners following her departure.
1/ Today @cdixon, I shared with @a16z the news that I will be launching a crypto fund and web3 fund early next year. My last crypto fund at the firm will be the current one.
— Kathryn Haun (@katie_haun) December 15, 2021
A small group of existing Andreessen Horowitz employees will join the new fund, including Rachael Horwitz, Head of Crypto Marketing. A16z will also be a limited partner in Haun’s new venture, and the founders of the company will contribute personally.
It will not only focus on bitcoin and other coins but also Web3. She believes that the Internet can be revolutionized by the latter.
“In 2018, Chris and I launched our first crypto fund. It was a small experiment. It has been more than we could have imagined thanks to the hard work of many. It’s now clearer than ever that web3 is going to transform the internet.
Haun will continue to sit on the board of Andreessen Horowitz portfolio companies despite her departure.
“As a board member, I will continue to manage the existing a16z cryptocurrency portfolio and will retain my board seats.”
The launch of a $2.2B fund focusing on cryptocurrency earlier this year will mark Katie Haun’s success at Andreessen Horowitz. The sector was described by the VC partners back then as “the future” of finance.
Haun and Dixon concluded that crypto was not only the future in finance, but also, like the internet’s early days, it is poised for transforming all aspects of our lives.
The company joined the NFT universe shortly thereafter. OpenSea received $100 million in funding from industry investors during a Series B round. It was led by Andreessen Horowitz. Other prominent figures, such as Kevin Hartz, Kevin Durant and Ashton Kutcher, supported the financing.
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