Distinguished crypto investor Katie Haun is reportedly planning to boost a whopping $900 million for a pair of cryptocurrency funding funds. This could possibly be a considerably massive debut for a brand new enterprise capital agency.
Katie Haun’s Excessive Goal for First Enterprise Agency
Haun, who is ready to depart as a companion at Andreesen Horowitz (a16z), has excessive targets for her new enterprise agency, according to Monetary Instances. The investor has doubled down on a $300 million early funding fund specializing in cryptocurrency startups, whereas the opposite $600 million will probably be raised for a fund devoted to bigger corporations and digital tokens.
The studies additionally said that Haun had witnessed robust early demand from high-profile and rich traders. Therefore, she has set a excessive aim for the brand new enterprise and in addition intends to start out focusing on establishments subsequent week. Cryptocurrency startups have emerged as a profitable space for VCs internationally.
Haun, who was the primary feminine basic companion Andreessen Horowitz, announced the departure from the agency in December final 12 months and revealed beginning her personal enterprise capital firm – KRH. In her four-year stint on the firm, Haun managed to boost a number of cryptocurrency-focused funds. Via her new agency, she has already participated within the NFT market OpenSea’s $300 million funding spherical earlier this week.
FT additionally reported that Andreessen and KRH will be part of forces to again founders and tasks within the sector and proceed the web3 coverage program they constructed this 12 months. Moreover, Haun would assist make investments the remainder of the California-based VC agency’s newest $2.2 billion funds.
VCs and Crypto Startups: 2021 Version
Companies centered on cryptocurrency and blockchain expertise attracted greater than $32 billion in funding from enterprise capital in 2021 CryptoPotato earlier reported that investments from VCs famous a 450% progress in comparison with the earlier 12 months.
Solely a handful of VC investments made their manner in 2020 because the market witnessed lows initially. Studies recommend lower than $6 billion in investments from enterprise capitalists that 12 months. Nevertheless, as crypto startups turned massively worthwhile just lately, the pattern modified. One of many fundamental contributors was the approval of Bitcoin exchange-traded funds (ETF) throughout totally different elements of the world.