Katie Haun, Andreessen Horowitz Basic Associate
One of many world’s prime crypto buyers is leaving Andreessen Horowitz to begin her personal enterprise capital fund.
Katie Haun, who grew to become Andreessen’s first feminine basic companion in 2018, mentioned her fund will launch subsequent yr with a give attention to cryptocurrency and blockchain start-ups.
Haun, a former federal prosecutor, helped increase a number of cryptocurrency-focused funds at Andreessen. The agency has been plowing cash into start-ups and initiatives this yr, and already absolutely deployed its newest $2.2 billion fund raised in June, in response to Axios.
Haun co-launched Andreessen’s crypto funds with Chris Dixon, who will keep on and lead the agency’s blockchain investments, alongside three different companions.
“When Chris and I began our first crypto fund in 2018, it was a moonshot experiment,” Haun wrote on Twitter on Wednesday. “Because of the exhausting work of many, it has exceeded each of our wildest expectations. Right now, it is extra obvious than ever that web3 will remodel the web.”
Haun is heading out on her personal as crypto investing strikes past bitcoin and digital currencies and takes on broader significance in what techies are describing as the following wave of the web, known as Web3 or Internet 3.0. She mentioned she’s going to preserve her board seats at Andreessen’s portfolio corporations, together with OpenSea and Coinbase.
Andreessen Horowitz shall be a restricted companion in Haun’s new fund. Marc Andreessen and Ben Horowitz, the agency’s founders, and Dixon will all personally contribute to Haun’s new endeavor.
Identified for early bets on corporations like Instagram, Lyft, Pinterest and Slack, Andreessen Horowitz made its first foray into digital belongings by way of Coinbase in 2013. Its first official crypto-focused fund launched three years in the past, throughout what’s now generally known as “crypto winter.” That yr, the worth of bitcoin cratered roughly 80% from the highs in 2017.
Bitcoin is up about 700% since Andreessen introduced its first crypto fund, and was buying and selling above $49,000 as of Wednesday afternoon.