Venture Capital Firm Plans Two New Funds Amid Changing Market Conditions
Venture capital firm Haun Ventures is reportedly aiming to raise $1 billion for two new cryptocurrency investment funds, with expectations of high investor demand.
According to sources cited by Fortune Crypto on 21 March, the firm plans to allocate $500 million to early-stage crypto investments, while the remaining $500 million will be directed towards late-stage ventures. The fundraising round is set to close by June and is expected to be one of the largest in the sector over the past two years.
Lower Fundraising Target Due to Market Conditions
Haun Ventures, founded in 2022 by former Coinbase board member and federal prosecutor Katie Haun, has adjusted its fundraising expectations in response to shifting market conditions. In its initial funding round, the firm secured $1.5 billion, but this time, it is seeking $500 million less.
Despite the lower target, the firm remains optimistic, reportedly anticipating that both funds will be oversubscribed. Since its inception, Haun Ventures has attracted top talent from companies such as Airbnb, Coinbase, and Google’s tech incubator Jigsaw.
The firm’s move comes as other major players in the crypto VC space have pursued similar fundraising efforts. Paradigm closed an $850 million investment fund in June 2024, while Pantera Capital sought to raise over $1 billion in April for a blockchain-focused fund.
Stablecoins Expected to Dominate Crypto VC Investment in 2025
Haun Ventures has remained active in the crypto space, recently participating in Bitwise’s $70 million funding round alongside investors such as Electric Capital, MassMutual, MIT Investment Management Company, and Highland Capital.
While the specific focus of Haun’s upcoming funds remains unclear, industry experts predict that stablecoins will continue to be a key area of interest in 2025. Deng Chao, CEO of institutional asset manager HashKey Capital, recently described stablecoins as the most reliable use case for cryptocurrency in 2024.
Market analysts at Infinity Hedge have projected an increase in crypto VC investment in 2025 compared to last year. However, they caution that investment levels are unlikely to reach the peak seen in 2021, when crypto VC funding hit $33.8 billion. By comparison, funding in 2024 amounted to $13.6 billion.
Haun Ventures’ latest fundraising initiative highlights the continued interest in the crypto sector, even amid fluctuating market conditions. With the firm expecting strong investor demand, the upcoming months could set the tone for future investment trends in the digital asset industry.
