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It’s a significant raise for a few reasons: It may be the largest fund ever raised by a solo general partner, as Axios noted, and by a woman.
Haun is no stranger to the world of crypto, though. During her career as a federal prosecutor, she created the government’s first cryptocurrency task force. She later became a board member of Coinbase and invested in companies including OpenSea and Chain.
Her fund is among a growing number of new funds dedicated to investing in cryptocurrency. Andreessen Horowitz announced its $2.2 billion Crypto Fund III in June 2021, Coinbase has its own investment arm with Coinbase Ventures, and Paradigm last year announced a $2.5 billion crypto fund.
According to Axios, Haun raised $500 million for an early-stage fund and $1 billion for an “accelerator” fund.
Venture investment into cryptocurrency hit a record high last year, with $26 billion going into crypto and blockchain companies in 2021, up 477 percent year over year. And with all the interest in Web3, or the idea of a decentralized web, and non-fungible tokens, investors have continued to double down on the space in 2022.
Illustration: Dom Guzman