The Information – Alexis Ohanian Venture Fund Plots $776 Million in New Funds

IWT Research February 10, 2023

Alexis Ohanian Venture Fund Plots $776 Million in New Funds
2023-02-08

Seven Seven Six, the venture capital fund launched by Reddit co-founder Alexis Ohanian in 2020, plans to raise $776 million for two new funds, according to investment documents viewed by The Information. The planned fundraising is more than 50% bigger than what it raised last year and will test investor appetite for bigger funds during a tough environment.

The Palm Beach, Fla.-based firm had an uneven start since its 2020 launch. It made a number of ill-timed bets on non-fungible-token projects like Yuga Labs—the startup behind the Bored Ape Yacht Club NFT collection—in early 2022 as crypto prices were falling, and last year suspended fundraising for a planned crypto fund. But it’s told prospective investors that its debut fund launched in 2021 has jumped in value, according to the documents.

https://www.theinformation.com/articles/alexis-ohanian-venture-fund-plots-776-million-in-new-funds

Categories: VC Funds

Related Articles

TechCrunch-Index Ventures thinks new startups will emerge in the downturn and is putting $300M behind that bet

Back in April 8, 2021 Index Ventures, one of the very few ‘original gangsters’ of the European VC scene, said it was kind’ve going ‘back to its roots’. It announced the launch of a new $200 million dedicated seed investing vehicle dubbed ‘Index Origin’. Now, if you cast your minds back, this was during the […]

Index Ventures thinks new startups will emerge in the downturn and is putting $300M behind that bet by Mike Butcher originally published on TechCrunch

IWT Research February 1, 2023

Report

Harassment or bullying behavior
Contains mature or sensitive content
Contains misleading or false information
Contains abusive or derogatory content
Contains spam, fake content or potential malware

Block Member?

Please confirm you want to block this member.

You will no longer be able to:

  • See blocked member's posts
  • Mention this member in posts
  • Invite this member to groups
  • Message this member
  • Add this member as a connection

Please note: This action will also remove this member from your connections and send a report to the site admin. Please allow a few minutes for this process to complete.

Report

You have already reported this .

This website uses cookies to ensure you get the best experience on our website. If you continue to use this site we will assume your consent.

Consent