Katie Haun, a former Andreessen Horowitz investor, announced on Monday that her firm has raised $1 billion across new funds to continue backing crypto and blockchain startups. The capital will be deployed across early- and later-stage companies, with a focus on alternative assets (such as gold and other commodities), the agentic economy, and financial services. The firm plans to invest the funds globally over the next two to three years.
Background
Haun left a16z in late 2021 and launched her own venture firm in 2022. Since then, the firm has grown to manage more than $2 billion in assets under management, according to estimates from PitchBook. Notable investments include Palmer Luckey’s Erebor Bank and the crypto finance company Ellipsis Labs.
What the Funds Will Target
The new capital will be directed toward startups in three main areas:
- Alternative assets: Tokenized commodities like gold and other physical assets.
- Agentic economy: Blockchain-based systems for autonomous agents and decentralized workflows.
- Financial services: Crypto-native banking, lending, and payment infrastructure.
Tradeoffs
Raising $1 billion in a single round gives Haun’s firm significant dry powder to take larger stakes in promising projects, potentially disrupting traditional venture capital dynamics. However, deploying that capital over two to three years in a volatile crypto market carries risk. The firm’s focus on alternative assets and agentic economies is relatively niche, which could limit exit opportunities compared to broader crypto plays.
Bottom Line
Haun’s $1 billion raise signals continued institutional confidence in crypto and blockchain startups, even amid market fluctuations. The firm’s strategy of targeting specific verticals—alternative assets, agentic economy, financial services—may yield concentrated returns if those sectors mature as expected. For founders in these spaces, Haun’s fund represents a substantial new source of late-stage capital.