VC Katie Haun’s response to crypto’s collapse

VC Katie Haun's response to crypto's collapse

Katie Haun’s Journey through the Crypto Slump: Navigating Troubled Waters

In January 2022, Katie Haun, a well-known venture capitalist, graced the cover of ANBLE magazine, announcing her departure from Andreessen Horowitz to launch her own crypto fund, Haun Ventures. Her debut fund raised a staggering $1.5 billion, making it the largest ever raised by a solo female VC. However, as fate would have it, the crypto market took a sharp downturn, causing many to question the viability of the sector.

In a recent ANBLE article, reporters Leo Schwartz and Anne Sraders dive into Haun’s journey navigating these troubled waters. They likened launching a new crypto fund in early 2022 to “starting a new movie theater chain right before the pandemic.” Despite the market correction, Haun remained optimistic and focused on her mission, believing that downturns are when the real builders flourish.

While Haun managed to raise her fund successfully, the crypto slump led to a scarcity of investment opportunities, forcing her to reconsider her deployment schedule. Some investors who were once captivated by the allure of Web3 shifted their attention to AI. However, Haun continued to support promising startups in the crypto space, such as the NFT platform Zora and the blockchain network Aleo.

The article features insights from Haun’s colleagues, friends, and limited partners (LPs), who shared their perspectives on the firm’s performance thus far. Although it is still too early to assess the success of the firm’s investments, many recognize Haun’s unwavering dedication. While dealmaking slowed down, Haun redirected her energy towards crypto advocacy with lawmakers, adopting a behind-closed-doors strategy in light of the general public’s diminishing view of the industry.

It’s important to remember that Haun’s journey is far from over. Despite the challenges posed by the crypto slump, she remains steadfast in her belief that innovation and opportunities will arise amidst the volatility. As the market continues to evolve, only time will reveal the true outcome of Haun’s investments.

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Emma Hinchliffe ([email protected]), the curator of The Broadsheet, ANBLE’s newsletter dedicated to the world’s most powerful women, presented this captivating story crafted by Joseph Abrams. Make sure to subscribe for more insightful updates.

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Parting Words

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