23 Mar Former a16z General Partner Raises $1.5 Billion to Invest in Crypto and Web3
After leaving a16z, Katie Haun announced plans to raise nearly a billion dollars to invest in various crypto projects, including NFTs and Web3. However, she broke her own expectations by raising $1.5 billion.
CryptoPotato reported in December last year Haun’s plans to leave Andreessen Horowitz, where she occupied the position of General Partner for years, focusing on digital assets.
Later on, she outlined her intentions to secure $900 million for her newly-found fund to invest in cryptocurrency projects.
According to a CNBC report, though, her fund managed to raise nearly twice the money she intended at first – $1.5 billion. Thus, she broke Mary Meeker’s record of the largest amount raised by a solo female founding partner.
She noted that the funds will primarily go for crypto projects and Web3-oriented companies, claiming that this is the “new era of the Internet, and it deserves a new era of investors.”
“That’s something I’ve learned through being involved in deploying three other crypto funds: there’s still a ton of potential in crypto and Web3 equity business models, but also token business models. I don’t think that you can really be a crypto investor without holding tokens.” – she added.
Haun’s new fund will be divided into two segments. $500 million will go for early-stage companies, while the remaining $1 billion will be for later-stage projects.
The past several months have seen a rapidly increasing number of companies and crypto projects allocating funds towards the upcoming Web3. Some examples include Polkadot, Hashed, Castle Islands, and more.
Post is imported from RSS feed, by one of our guest editors. G6 does not edit or moderate the content. G6 is not responsible for your actions. No rights owned by G6. To remove the post, please email us at [email protected]