In a bold move signaling renewed confidence in digital assets, Haun Ventures is reportedly eyeing $1 billion for two new crypto investment funds, a major bet that institutional money is ready to re-enter the volatile market.
Founded by former federal prosecutor and ex-Coinbase board member Katie Haun, the firm is doubling down on crypto’s recovery cycle, even as global markets remain cautious.
Haun Ventures plans to split the raise evenly: $500 million for early-stage crypto projects and another $500 million for late-stage ventures.
While ambitious, the target is notably lower than the firm’s $1.5 billion debut raise in 2022, reflecting today’s more conservative investment climate. Back then, Haun rode the tail end of the bull market, attracting top talent from Airbnb, Coinbase, and Google’s Jigsaw.
This time, Haun isn’t chasing the same highs — but expects the round to be oversubscribed, a rare show of optimism in an industry still shaking off the last cycle’s collapse.
The Broader Picture — Crypto VC Sees a Slow but Steady Revival
Haun’s new raise could rank among the largest crypto venture fundings in two years if completed. Paradigm secured $850 million in June 2024, while Pantera Capital recently set its sights on a $1 billion blockchain fund.
Despite lingering volatility, crypto venture funding is gradually bouncing back. Analysts predict 2025 investments could surpass 2024 levels, though unlikely to match the dizzying $33.8 billion peak of 2021.
VCs are adjusting their focus, leaning into proven use cases like stablecoins, which institutional players increasingly view as crypto’s strongest foothold in traditional finance.
Why Stablecoins and Infrastructure Could Dominate the Next Cycle
Haun Ventures’ recent participation in Bitwise’s $70 million round alongside major players like MassMutual and MIT’s Investment Management Company signals where the smart money is headed — infrastructure, asset management, and regulated crypto products.
With global regulators warming up to stablecoin frameworks, many VCs see 2025 as a breakout year for fiat-pegged digital assets. HashKey Capital’s CEO, Deng Chao, recently doubled down on this thesis, calling stablecoins crypto’s most proven use case so far.
The Takeaway
Haun Ventures’ aggressive $1 billion target sends a clear message — crypto’s institutional moment isn’t over; it’s evolving.
While the speculative frenzy of 2021 may not return soon, seasoned investors are positioning for the next wave, one driven by real-world use cases, compliance, and infrastructure rather than meme coins and hype.
If this raise succeeds, it won’t just mark a personal win for Katie Haun — it will signal that serious capital is betting on crypto’s long-term future.
