Haun Ventures Closes $1 Billion Crypto and AI Fund Despite Market Slump
Haun Ventures closed a $1 billion fund on May 5 targeting cryptocurrency infrastructure and AI agent economy startups, making it one of the largest dedicated crypto venture raises of 2026. The fund close comes as Bitcoin (BTC) trades above $80,000 but broader cryptocurrency market sentiment remains cautious after a months-long correction from October 2025 highs.
The raise signals that institutional limited partners continue to allocate to crypto-focused venture despite the drawdown.
Fund Focus and Strategy
Haun Ventures, the San Francisco-based venture capital firm founded by former federal prosecutor and Andreessen Horowitz general partner Katie Haun, confirmed the fund close in a Decrypt report published May 5. The new vehicle targets three primary verticals: cryptocurrency infrastructure, tokenization platforms, and AI agent economy projects.
AI agent economy refers to the emerging ecosystem of autonomous software agents that transact, negotiate, and operate using cryptocurrency rails rather than traditional payment systems.
The $1 billion figure matches the size of Haun Ventures’ second fund, closed in 2022. That prior vehicle backed projects including Coinbase (COIN) spinouts, layer-2 networks, and decentralized finance protocols.
The new fund’s addition of AI agent economy as a dedicated focus reflects how the investment thesis at dedicated crypto funds has shifted since 2022.
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Background
Haun launched her eponymous firm in 2022 after leaving Andreessen Horowitz, where she co-led the a16z crypto fund. The firm’s first fund closed at $1.5 billion in early 2022 near the peak of the prior bull market cycle.
Bitcoin peaked above $124,000 in October 2025 before pulling back toward $62,000 by February 2026, a decline of roughly 50%. That correction cut into mark-to-market values across venture crypto portfolios industry-wide.
The fact that Haun secured $1 billion in fresh commitments through that drawdown period suggests limited partner conviction in the multi-year thesis rather than near-term price speculation.
Venture fundraising across crypto broadly slowed through 2025. Several funds that raised during the 2021-2022 cycle struggled to return capital or raise successor vehicles.
Haun Ventures’ close at the same scale as its 2022 fund is therefore a meaningful signal on LP sentiment heading into the second half of 2026.
Also Read: Three Financial Sector Stocks Flash Oversold Signals in May
Outlook
The fund’s AI agent economy focus puts Haun Ventures in direct competition with generalist AI-focused funds now circling crypto infrastructure. Several portfolio decisions from this vehicle will be watched closely as signals of which AI-plus-crypto verticals are attracting the most sophisticated capital.
A first close of investments from the new fund is likely within six months, with announcements expected to clarify the firm’s specific positioning on AI agent infrastructure versus tokenization plays.
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