Soon to be a former Andreessen Horowitz (a16z) general partner Katie Haun intends to raise $900 million in two new cryptocurrency funds. The Financial Times with reference to informed sources reported this.
According to them, a16z is an anchor investor. Thus, the firm allegedly invested $50 million. The $300 million fund is focused on early-stage cryptocurrency startups, and $600 million on larger companies and digital tokens.
At the end of 2021, it became known that Haun would leave Andreessen Horowitz for her own project. The investor did not disclose details but noted that the company will focus on startups in the field of cryptocurrencies and Web 3.0.
Focusing on startups in the field of cryptocurrencies and Web 3.0
As a general partner, she has participated in some of a16z’s most significant industry investments. Including deals with Celo, Arweave and Royal. In July 2021, the venture capital firm became the investment leader in OpenSea’s $100 million funding round. The deal assumed that Haun will join the board of directors of OpenSea.
Furthermore, Haun was also co-chairman of a Crypto Fund III, worth $2.2 billion. Moreover, the Fund is financing startups at all stages of development.
The foundation’s team of experts in the field of marketing, public relations, politics, regulation will contribute to the popularization of cryptocurrencies. a16z believes that digital assets are still at an early stage of development.
Forming new crypto funds
Recall that in December, the management company of Dan Tapiero’s 10T Holdings filed an application; to launch a third fund with a focus on investing in crypto startups for $500 million.
10T Holdings has invested in projects such as Kraken, eToro, Ledger, Figure, Gemini, Bitfury and Huobi. 12 out of 14 portfolio companies have achieved the status of “unicorn”. In addition, the list of investors in the funds includes billionaire Alan Howard and the pension fund of state employees of the state of Michigan.