Katie Haun, Andreessen Horowitz General Partner
One of the world’s prime crypto traders is leaving Andreessen Horowitz to begin her personal enterprise capital fund.
Katie Haun, who grew to become Andreessen’s first feminine basic associate in 2018, stated her fund will launch subsequent yr with a concentrate on cryptocurrency and blockchain start-ups.
Haun, a former federal prosecutor, helped elevate a number of cryptocurrency-focused funds at Andreessen. The agency has been plowing cash into start-ups and initiatives this yr, and already totally deployed its newest $2.2 billion fund raised in June, in accordance 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 started our first crypto fund in 2018, it was a moonshot experiment,” Haun wrote on Twitter on Wednesday. “Thanks to the hard work of many, it has exceeded both of our wildest expectations. Today, it’s more apparent than ever that web3 will transform the internet.”
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 Web 3.0. She stated she is going to preserve her board seats at Andreessen’s portfolio corporations, together with OpenSea and Coinbase.
Andreessen Horowitz can be a restricted associate 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.
Known for early bets on corporations like Instagram, Lyft, Pinterest and Slack, Andreessen Horowitz made its first foray into digital property by Coinbase in 2013. Its first official crypto-focused fund launched three years in the past, throughout what’s now often 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.
WATCH: Katie Haun on Andreessen’s latest crypto fund