Haun Ventures raises $1 billion to back crypto and AI startups

Katie Haun has raised $1 billion across new funds at Haun Ventures, a fresh sign that major capital is again flowing into crypto after years of crashes, scandals and regulatory scrutiny. The money is split evenly between early-stage and later-stage funds and is expected to be deployed globally over the next two to three years.

The raise extends a wager Haun made when she left Andreessen Horowitz in late 2021 and founded Haun Ventures in 2022. A former federal prosecutor who built her reputation investigating digital assets before becoming a crypto investor, Haun is now positioning her firm as a backer of more than just blockchain startups. The firm says it will invest in companies that combine financial services, artificial intelligence, alternative assets and AI-agent-related products, along with core crypto and blockchain infrastructure.

That broader mandate reflects how the market has changed since the last boom. Investors are still interested in digital assets, but they are looking for businesses with real users and real revenue, not just token speculation. Stablecoins remain central to that thesis, and Haun has framed them as part of the future of finance. The firm’s public site says it backs founders from seed stage to scale and describes decentralized technology as the foundation for a more efficient, transparent and accessible financial system.

Haun Ventures has already assembled a portfolio that fits that strategy. The Block said its holdings include Fireblocks, Chainalysis and Aptos Labs, while the firm recently participated in Squads’ $18 million round for Altitude, a stablecoin platform. Haun Ventures also says it manages billions in investments in digital assets and frontier tech, and that its backers include sovereign wealth funds, endowments, foundations, pensions and financial institutions.

The new $1 billion raise also underscores how far Haun Ventures has moved in just a few years. The firm raised $1.5 billion in 2022, a sum Bloomberg described as one of the biggest solo debuts for a venture capitalist. Now the question is less whether crypto can attract capital again than what kind of crypto survives this cycle. Haun’s answer is a narrower, more institutional market built around infrastructure, payments, stablecoins and software for the next wave of financial services, rather than the speculative excess that defined the last one.