Dec 15, 2021 - Economy

Scoop: Crypto investor Katie Haun leaving Andreessen Horowitz

Illustration of a bitcoin surrounded by hundred dollar bills.

Illustration: Shoshana Gordon/Axios

Katie Haun, one of the world's most influential crypto venture capitalists, is leaving Andreessen Horowitz to form her own firm.

Why it matters: Haun has helped turn Andreessen Horowitz into the VC world's largest crypto investor, including a $2.2 billion fund raised earlier this year that's already been deployed.

  • Her deals have included OpenSea, Celo, Arweave and Royal. She also led the firm's investment in Coinbase, where she serves as an independent director.
  • She's expected to maintain all of her Andreessen Horowitz-related board seats.
  • “Katie is a very special leader in the crypto community who has been an invaluable part of the Coinbase team as we’ve grown," Coinbase CEO Brian Armstrong tells Axios. "Founders starting out in crypto will benefit from having her in their corner."

The big picture: Haun isn't saying too much about her new firm, except that she plans to be the only general partner and that it will focus on crypto and Web3 startups.

  • She'll be joined by a small number of current Andreessen Horowitz staffers — albeit none from the investment team — including crypto marketing head Rachael Horwitz.
  • Andreessen Horowitz will be a large limited partner in Haun's new fund. Marc Andreessen and Ben Horowitz will make personal commitments, as will crypto-focused partner Chris Dixon.
  • Andreessen Horowitz staff members were informed of Haun's departure earlier today.

What she's saying: "I've been here for four years and am really proud of the value delivered to LPs and the founders we've backed," says Haun, a onetime federal prosecutor. "Marc, Ben and Chris really took a chance on me and on crypto, and I'm ready to go out on my own."

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