Crypto VC giant targets $1B for new funds, expects oversubscription — Report
Venture capital firm Haun Ventures is in the process of raising $1 billion through two distinct cryptocurrency-focused investment funds, targeting a close within the next three months. The firm plans to allocate $500 million each to early-stage and late-stage investments, according to sources familiar with the initiative. This marks a strategic pivot from Haun’s ambitious $1.5 billion funding round in 2022, which was backed by notable firms like Airbnb, Coinbase, and the Google tech incubator Jigsaw.
The firm’s founder, Katie Haun, a former Coinbase board member and federal prosecutor, has indicated that current market conditions necessitate more tempered fundraising expectations. Despite aiming for a smaller target this time around, insiders suggest that the new funds may actually be “oversubscribed,” reflecting continuing strong interest in crypto investments.
The timeline for this latest fundraising effort is set for completion in June, potentially positioning it among the largest in the cryptocurrency sector over the past two years. Haun’s endeavor follows similar pursuits by other venture capital leaders like Paradigm and Pantera Capital, both of which sought substantial funding amounts in 2024.
In the broader context of crypto investment, February 2025 saw significant activity, with 137 companies collectively securing over $1.11 billion in funding. This flurry of investment underscores a resilient appetite for cryptocurrencies, even as 2024’s total VC crypto funding reached $13.6 billion, down from $33.8 billion in the 2021 bull market.
In terms of investment focus, while specifics on Haun’s upcoming funds remain undisclosed, speculation suggests increasing prioritization of stablecoins in 2025. This sentiment aligns with insights from market analyst Deng Chao of HashKey Capital, who recently characterized stablecoins as the most viable use case for cryptocurrency in the upcoming year.
Haun Ventures has also been active in backing other ventures, such as Bitwise’s recent $70 million funding round—part of a collaborative investment with several prominent firms including Electric Capital and MassMutual.
Overall, the evolving landscape of venture capital in the cryptocurrency sector indicates a cautious yet optimistic outlook, as firms continue to adapt to fluctuating market dynamics.
