On Tuesday, Haun Ventures, founded by former federal prosecutor turned crypto investor Katie Haun, announced a $500 million early-stage fund. The firm also announced an additional $1 billion for more mature startups which will focus on Web3.
Haun Ventures’ launch comes at a challenging time for the crypto industry. Following an all-time high for Bitcoin in November 2021, digital tokens have since tumbled as the Federal Reserve has begun to hike interest rates amid spiralling inflation.
However, in an interview, Haun insisted that, despite such challenges, “it’s not a bad time to deploy a crypto fund […] The extreme volatility is reminiscent of the first two crypto funds I deployed. What I learned from those funds is that great founders and great projects are going to be built in every cycle.”
Speaking to Wired, Haun also praised the potential for positive societal change she sees in Web3 and crypto: “I really believe that there’s a lot of societal benefit that can come about from Web3 and crypto, and I’m feeling right now like my highest and best use is working with the founders and builders ushering in what I think is a positive societal change.”