Crypto-focused Haun Ventures hires private-equity top manager
In a Wall Street Journal exclusive article, Haun Ventures reveals their hire of a private-equity veteran, Suzanne Kim, to handle investor relations.
According to the report, this action shows how firms try to communicate with their investors about the changing crypto landscape.
Suzanne Kim’s previous experience includes working in private equity for 15 years as a managing director at Hellman & Friedman, an American private equity firm, and a vice president at TPG Capital, a leader in alternative assets.
In her new role, Suzanne will join Haun Ventures, the firm that supports teams building in web3, with investments ranging from $500 million early stage funds to $1 billion in acceleration funds and is led by Founder and CEO Katie Haun.
Last June, the firm made headlines when it led a $10 million seed round for the web3 gaming studio, Argus.Â
Crypto investments in 2023
During the bull run, crypto investments paid off as the underlying digital assets surged. However, in early 2022, Terra and FTX collapsed, and cryptocurrencies took a free fall, dropping the total crypto market cap by as much as 70%.
Unfortunately, Reuters reports these scars run deep for venture capital firms, with VC crypto firms seeing investments go down by almost three-quarters from a year ago.
The resulting decision from Haun Ventures to welcome a private equity expert suggests a shift in strategy that might help carry the firm to the next bull run.
