Katie Haun leaves one of the world’s leading investment firms, to create Haun Ventures. Andreessen Horowitz has grown to be a major presence in the crypto investment world as they’ve rapidly deployed capital into a number of startups in the space. They were an early mover with their first $300 million crypto investment fund in 2018, which they have since followed up with two larger funds, including their current vehicle, the $2.2 billion Fund III.

Haun has co-led the fund alongside longtime a16z GP Chris Dixon. The firm has maintained its edge among legacy firms but is seeing increased competition among a swatch of so-called “crypto native” investment funds like Paradigm and Variant Fund. Paradigm recently closed a $2.5 billion crypto fund, the largest of its kind.