Former a16z General Partner Raises $1.5 Billion to Invest in Crypto and Web3

#Ripple #XRP

After leaving a16z, Katie Haun announced plans to raise nearly a billion dollars to invest in various crypto projects, including NFTs and Web3. However, she broke her own expectations by raising $1.5 billion.

• CryptoPotato reported in December last year Haun’s plans to leave Andreessen Horowitz, where she occupied the position of General Partner for years, focusing on digital assets.
• Later on, she outlined her intentions to secure $900 million for her newly-found fund to invest in cryptocurrency projects.
• According to a CNBC report, though, her fund managed to raise nearly twice the money she intended at first – $1.5 billion. Thus, she broke Mary Meeker’s record of the largest amount raised by a solo female founding partner.
• She noted that the funds will primarily go for crypto projects and Web3-oriented companies, claiming that this is the “new era of the Internet, and it deserves a new era of investors.”

“That’s something I’ve learned through being involved in deploying three other crypto funds: there’s still a ton of potential in crypto and Web3 equity business models, but also token business models. I don’t think that you can really be a crypto investor without holding tokens.” – she added.

• Haun’s new fund will be divided into two segments. $500 million will go for early-stage companies, while the remaining $1 billion will be for later-stage projects.
• The past several months have seen a rapidly increasing number of companies and crypto projects allocating funds towards the upcoming Web3. Some examples include Polkadot, Hashed, Castle Islands, and more.

OhNoRipple via https://www.ohnocrypto.com/ @Jordan Lyanchev, @Khareem Sudlow