Haun Ventures, the venture capital firm known for investing in crypto firms, has raised another $1 billion for both early and later-stage funds, according to an announcement on Monday.
The capital will be deployed over the next two to three years in both crypto firms and a startups at the "new frontier" of finance, including artificial intelligence and alternative assets.
Last year, Fortune reported that Haun Ventures sought to raise $1 billion to launch two new crypto-focused funds. The funding round was expected to close in June.
Haun also raised $1.5 billion in 2022 ahead of the crypto market's downturn. Ahead of that raise the crypto industry saw a huge amount of capital enter the space, with many funds investing at high valuations.
Since then, investors seeking to fund crypto companies are now proceeding with more caution, wishing first to see that firms have real users and are generating revenue before committing to fund the nascent companies
Katie Haun, a former Coinbase board member and general partner at a16z, founded Haun Ventures. She previously served as a prosecutor at the Justice Department.
Portfolio companies listed by Haun include Fireblocks, Chainalysis, and Aptos Labs. Haun recently participated in a $18 million round for Squads, which is aiming to expand its stablecoin platform Altitude.
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