Katie Haun Is Departing Andreessen Horowitz to Found Her Own Cryptocurrency Fund
Katie Haun’s current a16z crypto fund will be her last since she will depart the organization in early 2021.
Katie Haun, a General Partner at Andreessen Horowitz (a16z) and a head of the firm’s digital asset division, announced her departure from the business early next year. She intends to establish a venture capital fund devoted only to cryptocurrency and Web3 firms.
The cryptocurrency investor made the announcement through Twitter, stating that she would depart from a16z in early 2022. Chris Dixon, co-founder of the digital asset business, will oversee the operation with three other partners after her departure.
A limited number of existing Andreessen Horowitz employees, including Rachael Horwitz, Head of Crypto Marketing, will join the new fund. Additionally, a16z will participate as a limited partner in Haun’s new venture, with the company’s founders contributing personally.
Apart from bitcoin and other cryptocurrencies, it will also emphasise Web3. According to her, the latter has the potential to completely change the Internet:
“In 2018, Chris and I launched our first crypto fund as a moonshot experiment. It has beyond both of our wildest hopes, owing to the tireless efforts of many. Today, it is more clear than ever that web3 will fundamentally alter the internet.”
Despite her departure, Haun will retain her positions on the boards of directors of Andreessen Horowitz’s portfolio companies: “As a board partner, I will continue to manage the a16z cryptocurrency portfolio and retain my board seats.”
Katie Haun’s successful tenure at Andreessen Horowitz will be recognized for the firm’s recent creation of a $2.2 billion cryptocurrency fund. At the time, the venture capital firm’s partners referred to the area as “the future of finance.”
“The scale of this fund reflects the magnitude of the potential before us: crypto is not simply the future of banking, but, like the early days of the internet, is set to alter every part of our lives,” Haun and Dixon concluded.
The corporation joined the NFT realm shortly afterwards. In July, OpenSea secured $100 million in a Series B investment round headed by Andreessen Horowitz from industry investors. Numerous other renowned figures, like Kevin Hartz, Kevin Durant, and Ashton Kutcher, lent their support to the fundraising.