Katie Haun: From Prosecutor to Crypto Visionary, Embracing the Entrepreneurial Spirit
Katie Haun’s career has been defined by bold choices, but her decision to leave the prestigious Andreessen Horowitz (a16z) venture firm to start her own billion-dollar crypto fund marked a pivotal moment, even for someone with her trailblazing resume. For Haun, the move wasn’t just about charting her own course in the rapidly evolving world of Web3—it was about embracing her identity as an entrepreneur.
“One of the things I learned in the last four years at the firm is, I’m actually an entrepreneur,” Haun said in an interview with Fortune. That realization became the foundation for her decision to step away from a16z, despite her influential role in building its crypto investment arm into one of the most respected in the industry.
From Prosecutor to Investor: Haun’s Unique Journey
Haun’s path to the top of the crypto world is as unconventional as it is inspiring. In 2013, as a federal prosecutor at the U.S. Department of Justice (DOJ), she was assigned a case involving bitcoin—a then-niche technology often associated with criminal enterprises. At the time, she had no particular interest in cryptocurrency, but the investigation opened her eyes to blockchain’s potential beyond its misuse.
Rather than dismissing the technology outright, Haun dug deeper. “The more I did some diligence and looked into it, I found that some of the myths I’d been hearing were just not true,” she explained. Through her work on high-profile cases like the Mt. Gox hack and corrupt agents involved in the Silk Road task force, Haun recognized that blockchain’s transparency could actually aid law enforcement. Bitcoin’s public ledger, she noted, left “digital breadcrumbs” that criminals could not erase.
This nuanced understanding of crypto caught the attention of Marc Andreessen and Ben Horowitz, who invited her to join a16z in 2018 as its first female general partner. Haun quickly became a driving force at the firm, co-leading its crypto team and helping to grow it into a powerhouse.
A Turning Point: Leaving a16z to Build Her Own Fund
Despite her success at a16z, Haun realized during her time at the firm that her true calling lay in building something of her own. “Like many things in my career, I think things are either a ‘hell yes’ or a ‘no,’” she said. For Haun, starting her own fund was a clear “hell yes.”
In early 2022, Haun launched her independent venture, Haun Ventures, with a bold mission: raise $1 billion to invest exclusively in crypto and Web3 projects. The timing wasn’t easy—the crypto market was reeling from volatility and regulatory scrutiny—but Haun remained undeterred. Her experience prosecuting complex cases had prepared her for the uncertainties of running a crypto fund.
“The nature of running a crypto fund is taking on risk,” Haun said, noting the parallels to her legal career. “That’s what I did for a living for over a decade. I made deals, I negotiated, I sat opposite someone on the other side of the table that I had to suss out quickly.”
Reimagining the Internet with Web3
At the heart of Haun’s vision is her belief in the transformative potential of Web3—the decentralized internet built on blockchain technology. In her view, Web3 has the power to redistribute control over digital spaces, putting it back in the hands of users rather than centralized tech giants.
“The internet should have gotten to be a prettier place, and it’s gotten to be an uglier place,” Haun said in an interview with Ezra Klein of The New York Times. She criticized the advertising-driven model of Web 2.0 platforms, where users generate content for free while companies profit from their data. “What would a world look like where users actually owned their data, where users had a choice?” she asked.
Haun is particularly excited about decentralized social platforms being built on crypto protocols. These platforms, she said, could give users the power to set the rules and decide how—or whether—their data is shared. “One of the things that we’re starting to see with crypto is democratizing participation and economic ownership,” she explained. “That’s at the very heart of crypto.”
Bridging Pragmatism and Vision
While Haun is a passionate advocate for blockchain’s potential, she approaches the technology with a pragmatic lens. She acknowledges the limitations of current decentralized systems, describing some Web3 experiences as “janky.” However, she views these growing pains as part of the natural evolution of any transformative technology.
“I think it’s important not to judge the current state of innovation with the end state of innovation,” she said. Haun believes that as decentralized technologies mature, they will achieve the convenience and usability that consumers prioritize.
Her pragmatic approach also extends to her views on institutional structures. While decentralization is a core principle of blockchain, Haun doesn’t see it as a panacea. Instead, she envisions a balance where decentralized systems and traditional institutions can coexist and even complement each other. She points to emerging models of community governance and collective funding as examples of how blockchain can support meaningful projects without sacrificing structure.
Navigating Challenges in a Volatile Market
Launching Haun Ventures at a time of crypto market turbulence was a bold move, but one that reflects Haun’s confidence in the long-term potential of blockchain. The collapse of major players like FTX later in 2022 cast a shadow over the industry, but Haun’s background gives her a unique perspective on navigating such challenges.
“The critics out there confuse the current state of innovation with the end state of the innovation,” she said, pushing back against skepticism. Haun sees volatility as an opportunity to focus on building durable projects and supporting founders with a strong vision for the future.
Her approach has earned praise from industry leaders like Emilie Choi, chief operating officer of Coinbase, who described Haun as “relentless” and deeply effective. “She knows what to say that’s actually going to make the difference,” Choi said.
Building for the Long Term
For Haun, leaving a16z wasn’t just about starting her own fund—it was about embracing the entrepreneurial spirit she discovered within herself. Her decision to step out on her own reflects her belief that the next chapter of blockchain innovation will require bold, independent thinking.
“Have I had moments in the last few weeks where I’m like, ‘What am I doing?’ Yes, absolutely,” Haun admitted after launching Haun Ventures. “And yet, I’m super committed to it. And I know it was the right decision.”
By focusing on the long-term potential of blockchain and supporting projects that challenge the status quo, Haun is positioning herself not just as an investor, but as a catalyst for change in the digital age.
Conclusion
Katie Haun’s journey from prosecutor to venture capitalist—and now to entrepreneur—epitomizes the spirit of innovation that drives the blockchain space. Her decision to leave a16z and launch Haun Ventures underscores her belief in the transformative power of Web3 to reshape how we interact with technology and one another.
In an industry marked by both promise and uncertainty, Haun’s balanced perspective and relentless drive make her a force to be reckoned with. As the crypto landscape continues to evolve, her leadership will undoubtedly play a key role in shaping its future.