The shocking collapse of FTX has rattled the cryptocurrency world and clipped the wings of numerous investors. But one person still flying high is Kathryn “Katie” Haun, the former lawyer-turned-Midas-like venture capitalist and crypto wizard.
Now running a $1.5 billion crypto-focused venture fund based in California’s Silicon Valley, Haun has paid $41 million for an estate in the highly affluent town of Atherton. The sellers were Bill and Julie McDermott, he the very well-compensated CEO of software giant ServiceNow, who themselves bought the place only two years ago, paying $36.8 million. (For the record, Haun’s acquisition of the property actually closed roughly six months ago, prior to the FTX debacle and crypto market crash.)
Even for Atherton, a town in the Bay Area suburbs home to many of the world’s richest tech moguls, that $41 million is big money. The deal is one of the area’s largest in recent years, and also represents 2022’s second-priciest Bay Area residential transfer, behind only a $44 million Atherton mansion recently sold by Sheldon Adelson’s stepdaughter to a Chinese buyer.
Unfortunately, because this was an off-market deal and the house was never publicly offered for sale, current photos of Haun’s sumptuous estate are nonexistent. In fact, the 2-acre compound hasn’t publicly surfaced since 2014, the same year it was sold for “just” $13.5 million to a Texas businessman who eventually sold it to the McDermotts. Given that the property has tripled in value in the eight years since, it’s guaranteed the residence’s interiors have been majorly renovated, so you’ll have to use your imagination there.
But aerial shots indicate the sumptuous grounds remain as timelessly elegant as ever. Classy and sophisticated, the estate was originally built in the 1930s and features a main house with six ensuite bedrooms across nearly 8,000 square feet of living space, plus a detached guesthouse with two more bedrooms and a newly-added subterranean suite, presumably for a live-in bodyguard or other staff member.
Other highlights include a sports court, two separate motorcourts, a four-car garage, sprawling lawns and both a swimming pool and reflecting pool. Formal gardens and carefully manicured hedges add to the estate’s privacy and seclusion. The house itself is also one of the most private in all of Atherton, set behind a very long driveway and large gates. Mature trees shield the entire place from public view.
Haun, 47, had an unlikely path to fame and fortune. The Stanford Law alum spent a decade as a federal prosecutor for the U.S. Department of Justice. Among other things, she was tasked with creating the government’s cryptocurrency task force, which tracked criminals engaging in blockchain fraud and Bitcoin-related felonies.
That tangential experience with crypto led Haun down a whole new career path. Today, she serves on the board of Coinbase and teaches a class on cryptocurrencies at Stanford Business School. In 2018, she became the first female General Partner at venture capital behemoth Andreessen Horowitz, where she co-led the firm’s $2.2 billion crypto fund.
Oh, and even despite the crypto market downturn, Haun likely won’t have to worry about affording this home. According to an analysis of her public stock holdings, her current net worth still exceeds $100 million. Last year, she sold 204,000 shares of Coinbase stock, a move that netted her more than $73 million in cash. And earlier this year, her debut venture fund raised a whopping $1.5 billion from investors in record time. No wonder she’s been called the “credible face of crypto.”