Haun Ventures, the venture capital firm founded by former Coinbase board member Katie Haun, is seeking to raise $1 billion for two new cryptocurrency investment funds by June 2024.
The planned fundraising will split equally between two $500 million funds - one focused on early-stage crypto investments and another targeting late-stage opportunities. Industry insiders expect both funds to attract strong investor interest.
The latest initiative comes amid evolving market conditions that influenced the firm to target a lower amount compared to its successful $1.5 billion raise in 2022. Despite the adjusted expectations, sources close to the matter indicate the new funds are likely to be oversubscribed.
This fundraising effort is poised to become one of the largest crypto-focused capital raises in recent years, joining similar-sized ventures from industry peers. Paradigm secured $850 million in June 2024, while Pantera Capital pursued over $1 billion for its blockchain fund in April.
Haun Ventures has maintained an active investment presence, recently participating in Bitwise's $70 million funding round alongside Electric Capital, MassMutual, and other prominent investors. While specific investment targets for the new funds remain undisclosed, industry analysts anticipate continued focus on stablecoin projects, which emerged as a leading use case in 2024.
The crypto venture capital landscape has shown steady recovery, with February 2025 seeing 137 companies raise a combined $1.11 billion. While 2024's total crypto VC funding reached $13.6 billion, experts predict 2025 will surpass this figure, though likely remaining below the 2021 peak of $33.8 billion.
The firm's founder, Katie Haun, has assembled a strong team including former executives from Airbnb, Coinbase, and Google's tech incubator Jigsaw. The new fundraising round is expected to conclude in June 2024.