Haun Ventures Buys the Dip in Chainalysis

Haun Ventures raised $1.5 billion to invest in crypto startups just before the market collapsed and venture deals slowed dramatically. Now, as the crypto market shows signs of a recovery, Haun is getting active—quietly grabbing a stake in one of the industry’s most high-profile survivors at a steep discount to its peak valuation.

The firm, founded in 2022 by former federal prosecutor and Andreessen Horowitz investor Katie Haun, has been buying shares in blockchain analytics startup Chainalysis from existing investors at a price that implies a valuation of $2.5 billion, down roughly 70% from the $8.6 billion price at which it raised money two years ago, said people briefed both by Chainalysis and the venture capital firm.