Haun Ventures Targets $1 Billion for New Crypto Funds Amid Market Shifts

Haun Ventures, a prominent venture capital firm in the cryptocurrency space, is reportedly aiming to raise $1 billion for two new investment funds within the next three months. The funds are expected to be allocated equally, with $500 million designated for early-stage crypto investments and the remaining $500 million for late-stage investments. This initiative comes as the firm adjusts its expectations due to different market conditions compared to 2022, when it successfully raised $1.5 billion in its inaugural funding round.

Despite the lower target, Haun Ventures anticipates that the new funds will be oversubscribed. The firm, founded by Katie Haun, a former Coinbase board member and federal prosecutor, has a strong track record in the industry. In March 2022, shortly after its launch, Haun Ventures secured $1.5 billion in its first funding round, attracting former executives from notable companies such as Airbnb, Coinbase, and Google's tech incubator Jigsaw.

The latest fundraising round is scheduled to close in June and is poised to be one of the largest in crypto funding over the past two years. This move aligns with similar efforts by other venture capital firms in the sector. For instance, Paradigm and Pantera Capital both sought substantial amounts in 2024, with Paradigm closing an $850 million investment fund in June 2024 and Pantera Capital aiming to raise over $1 billion for a new blockchain-focused fund in April.

Haun Ventures has been actively involved in the crypto ecosystem, recently participating in Bitwise’s $70 million funding round. While the specific focus of Haun's upcoming crypto funds has not been publicly disclosed, other venture capitalists have predicted that stablecoins will continue to be a significant area of interest in 2025. Deng Chao, CEO of institutional asset manager HashKey Capital, highlighted stablecoins as the strongest proven use case for crypto in 2024. Additionally, market analyst Infinity Hedge forecasted that crypto VC investment in 2025 would surpass last year’s levels but would not reach the peak recorded during the 2021 bull market.

Haun Ventures' strategic move to raise $1 billion for new funds reflects the firm's confidence in the crypto market's potential despite the changing landscape. The firm's ability to attract significant investment and its track record of successful fundraising rounds position it as a key player in the crypto VC space. As the industry continues to evolve, Haun Ventures' new funds are expected to play a crucial role in supporting both early-stage and late-stage crypto projects, driving innovation and growth in the sector.