Crypto News

Katie Haun’s Crypto Fund led a $50M fundraiser for NFT Marketplace Zora

the Non-Fungible Tokens (NFT)Platform Zora raised $50 million in seed funding to expand its services to customers. The investment was led by prominent venture capital firms such as Haun Ventures, Coinbase Ventures and Kindred Ventures.

Zora’s rating reached $600 million

NFTs remain an intriguing feature for a large segment of crypto participants, allowing many startups to raise multi-million dollar investments to strengthen their position in the space. The newest such entity is Zora.

It secured a $50 million fundraiser funded by Katie Haun’s new crypto fund – Haun Ventures. Other participants included Kindred Ventures and Coinbase Ventures. It is worth noting that this was the first investment of funds from Haun’s recently formed organization. Before that she worked for Andreessen Horowitz (a16z).

Sam Rosenblum – a partner at Haun Ventures – classified non-fungible tokens as “a core building block that is central to the future of Web3”.

“We also see Web3 innovations like NFTs as a positive force for openness and decentralization in a web that is currently too heavily biased toward centralized, opaque gatekeepers,” he added.

The recent fundraiser brought Zora’s valuation to $600 million. The protocol pledged to use the fresh funds to create a friendly customer ecosystem where any user can launch NFT collections, independent markets, and experiences. The move was commented on by Jacob Horne – co-founder of Zora:

“For our ecosystem, this is an acceleration of public infrastructure that facilitates your progression as artists, developers and communities. It means more permissionless code deployed to more chains, better APIs, more Zoratopias around the world, and an increase in grants and hackathons.”

In March of last year, Zora raised $8 million in a stock sale, while securing a $2 million investment in October 2020.

Katie Haun’s new challenge

Earlier this year, Andreessen Horowitz’s former general partner – Katie Haun – left the firm to set up a venture capital fund based on cryptocurrencies and Web3 startups. Her company was also joined by other a16z members, such as Rachael Horwitz (Head of Crypto Marketing).

Shortly thereafter, Haun announced her company’s intention to raise a whopping $900 million for two digital asset mutual funds. $300 million of this amount will be focused on crypto startups, while the remaining $600 million will be raised for a fund dedicated to other companies and digital tokens.

However, more recent reports suggest that she actually raised a whopping $1.5 billion, which is the largest sum raised by a solo female founding member.

Source: Crypto News Deutsch

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