Haun Ventures Aims to Raise $1 Billion for Crypto Investment Funds

Haun Ventures, an asset management firm, is targeting $1 billion in funding for two new crypto-focused investment funds over the next three months, according to reports.

If successful, $500 million will be allocated to early-stage crypto investments, while the remaining $500 million will be directed toward late-stage crypto investments, sources familiar with the matter told Fortune Crypto on March 21.

The VC firm, founded by former Coinbase board member and federal prosecutor Katie Haun in 2022, revealed that it did not meet its 2022 fundraising target of $1.5 billion, citing different market conditions as the reason for the lower target.

However, Haun expects “excessive demand” for the two new funds. In March 2022, the firm closed its first fundraising round, raising $1.5 billion, and also hired former executives from Airbnb, Coinbase, and Google’s technology incubator Jigsaw.

Haun Ventures Plans to Focus on Stablecoins in Crypto Investments

The firm plans to close its latest funding round in June, which is expected to be one of the largest in crypto funding over the last two years. Venture capital firm Paradigm and digital asset investment manager Pantera Capital were also seeking similar amounts of funding in 2024.

In June 2024, Paradigm closed an investment fund valued at $850 million. Pantera Capital stated it aimed to raise more than $1 billion for a new blockchain-focused fund.

Recently, Haun Ventures participated in a $70 million funding round for Bitwise, a crypto asset management firm. Investors such as Electric Capital, MassMutual, MIT Investment Management Company, and Highland Capital were also involved in the round.

While the specific focus of Haun’s upcoming crypto funds has not been publicly disclosed, other venture capital investors expect interest in stablecoins to continue into 2025.

HashKey Capital CEO Deng Chao recently stated that stablecoins represent the strongest proven use case for crypto in 2024.

Market analyst Infinity Hedge expects that crypto VC investments in 2025 will surpass last year’s levels but will not reach the peak seen during the 2021 bull market. VC crypto funding reached $33.8 billion in 2021, while in 2024, it is expected to total $13.6 billion.

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