Haun Ventures has raised $1.5 billion U.S. for a new cryptocurrency fund, a record amount for a venture capital firm run by a woman.
The amount raised by Haun Ventures, which is led by Katie Haun, represents the largest amount ever raised by a solo female founding partner, according to deal website Pitchbook.
Former investment banker Mary Meeker held the previous record with a $1.3 billion U.S. fund.
The new fund will invest in cryptocurrencies, non-fungible tokens (NFTs), and Web 3.0, which refers to general computing applications built on the blockchain, the same technology underlying Bitcoin (BTC) and other digital assets.
Haun Ventures says it will focus its investments on start-up equity, and, in some cases, the cryptocurrencies issued by those start-ups, also known as tokens.
Haun’s fund will be divided into two segments: $500 million U.S. for early-stage companies and protocols, and $1 billion U.S. for later-stage projects.
The fund’s launch comes during a bear market for Bitcoin. The world’s biggest cryptocurrency is currently down 40% from its peak last November at a current price of $42,200.00 U.S. per coin.
