Former partner at Andreessen Horowitz (a16z) Cathy Haun plans to raise $900 million for two new crypto funds, the Financial Times reports, citing familiar sources.
They say that a16z is the anchor investor — the firm allegedly invested $50 million. The $300 million fund is aimed at early-stage crypto startups, while the $600 million fund targets larger companies and digital tokens.
In late 2021 it became known that Haun would leave Andreessen Horowitz for her own venture. The investor did not disclose details, but noted that the venture would focus on crypto and Web 3.0 startups.
As a managing partner, she participated in some of the firm’s most notable industry investments, including deals with OpenSea, Celo, Arweave and Royal.
Haun was also the co-chair of the crypto fund worth more than $2.2 billion.
Back in December, Dan Tapiero’s 10T Holdings filed to launch a third fund focused on crypto startups with $500 million.
Earlier, Pantera Capital raised $600 million in a new crypto fund, while Paradigm and Andreessen Horowitz formed structures at $2.5 billion and $2.2 billion respectively.
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