Haun Ventures: After raising $1.5 billion, how will we build the Web3 ecosystem?

Author: Katie Haun, Founder of Haun Ventures

Original Title: "Introducing Haun Ventures"

Compiled by: Gu Yu, Chain Catcher

Today, we will introduce Haun Ventures, a company designed from the ground up to help founders build the next generation of the internet. We have raised $1.5 billion to support the development of web3. We will invest through two platforms: a $500 million early-stage fund and a $1 billion acceleration fund.

My Journey in Web3

My journey in crypto and venture is unconventional. I worked for over a decade at the U.S. Department of Justice, prosecuting organized crime, murder, public corruption, prison gangs, white-collar crime, and money laundering. In 2014, I created one of the government's first cryptocurrency task forces. During this work, the immense potential of these technologies quickly became clear. Like any tool, they can be used for good or bad, but we are just beginning to scratch the surface of the benefits.

After leaving the government, I collaborated with some of the most remarkable builders and investors in the field, including Brian Armstrong, who recruited me to join the Coinbase board in 2017. There, I met my friend and former partner Chris Dixon, with whom I co-founded and scaled one of the earliest and largest crypto venture capital firms in the world. Working with founders over the years ignited my own entrepreneurial spirit, and I began to consider building something new based on my experiences. Specifically, I have always believed in the value of connecting the world of cryptocurrency with different audiences—whether government, academia, business, or others—to promote a better understanding of the benefits of this emerging technology. All of this contributed to the founding of Haun Ventures.

Web3 Has Gone Beyond Its Financial Origins—It Now Provides the Technological Building Blocks for the Next Iteration of the Digital World

We believe Bitcoin is the original breakthrough that sparked a thousand experiments. The first implementation of digital, decentralized consensus unlocked countless new ways for network incentives to align and for non-sovereign value storage. In the decade since its invention, a series of innovations have emerged in the infrastructure layer of web3, particularly with the launch of Ethereum, a blockchain for deploying and running decentralized applications. This, in turn, ultimately paved the way for globally accessible financial use cases and the "DeFi Summer" of 2020.

Now, crypto technology has far exceeded financial use cases, touching gaming, art, media, and content. The web3 projects that will emerge in the next decade will be broader, applying the groundbreaking mechanisms of the past ten years to various industries, from transportation and commerce to fashion, sports, music, and more. We believe consumer demand for digital-native experiences and goods will continue to grow. As more people embrace these products, individual expectations for better control over their personal data will shift, and a new generation of creators will demand and enjoy better economics. We believe open platforms will earn loyalty, transparency, and trust by providing better incentives than previous walled gardens.

With the opportunity to invest in every layer of the web3 technology stack, we are energized and will support projects that are in early stages as well as those ready to accelerate growth.

Building Different Types of Companies for Web3

We believe the next generation of the internet will naturally give rise to a new generation of investors. Companies built for this moment need to become what one of our portfolio founders describes as "risk contributors." This is not just about asking how to help—it’s about being an active, loyal participant in the community and operating in ways that advance web3 values. Many crypto-native companies have been built this way from day one, and others entering crypto will need to cross that threshold. In addition to providing capital, we will contribute to web3 in two specific ways, starting and planning to layer in other functions as we learn and grow.

First, we are helping founders achieve systemic change. As a community, we are undertaking a grand experiment aimed at establishing new incentive structures for the web to increase trust, transparency, privacy, and opportunity. Creating a new internet that improves upon our current technological paradigm is an ambitious project. It requires not only outstanding technologists to build but also experienced operators who can responsibly shape public opinion, policy, and the broader systems that power our society, allowing web3 to reach its potential. We will work with our portfolio to lead a global campaign for web3 to eliminate misunderstandings, engage policymakers, highlight positive use cases, and win the hearts of leaders across industries. We believe this approach will help lay the groundwork for the web3 projects we support to reach over a billion people globally.

Second, we have incorporated community engagement into our practice from day one. As an early investor in the field, I am proud of the pioneering program I helped develop that delegates governance and tokens to civil society groups, universities, and nonprofits. Haun Ventures will continue to expand the range of voices participating in this ecosystem. We will build playbooks and share insights to help set new standards for how venture firms engage with web3.

We have assembled a world-class leadership team with extensive experience in very specific areas, both within and outside the crypto industry. They are all in on crypto and have already made a positive impact on how the world views web3.

My path to this moment has certainly not been traditional. In many ways, I do not fit the mold. The guidance and support of so many people, too numerous to mention, have helped me step out of my comfort zone and turn not fitting the mold into an asset. I am incredibly grateful to all of them. As web3 increasingly touches every aspect of our lives, we will need more voices and perspectives from those who break the mold.

I also want to thank the founders I have had the privilege of working with over the years, who have greatly encouraged my decision to start this company. Finally, I want to thank our limited partners. When selecting our LPs, our focus on systemic change was a key consideration—they are true strategic partners, fully committed to realizing the vision of web3 and willing to leverage our collective capabilities to drive impact.

We are committed to building a web3 ecosystem that future generations will admire. This is an exciting first step, but the real work is just beginning. As we continue to build our team and make investments, we will have more to share.

Related Reading: "The New Crypto VC Darling KRH Partners: The Solo Venture of Former a16z Partner Katie Haun"