{"id":56976,"date":"2022-02-01T18:10:12","date_gmt":"2022-02-01T16:10:12","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=56976"},"modified":"2025-09-04T09:13:33","modified_gmt":"2025-09-04T06:13:33","slug":"reddit-cofounder-raises-500-million-for-two-crypto-funds","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/reddit-cofounder-raises-500-million-for-two-crypto-funds\/","title":{"rendered":"Reddit cofounder raises $500 million for two crypto funds"},"content":{"rendered":"<p>The venture firm of Reddit co-founder Alexis Ohanian \u2014 Seven Seven Six \u2014 has created two new funds totaling $500 million.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">I\u2019m proud to announce <a href=\"https:\/\/twitter.com\/sevensevensix?ref_src=twsrc%5Etfw\">@sevensevensix<\/a> has raised $500M for our two newest funds, bringing our total AUM to $750M. We\u2019re just over 1 year old + I\u2019m grateful some of the best institutional investors in the world have chosen us. (Tho yes, I was hoping we\u2019d hit $776M AUM in Year 1). <a href=\"https:\/\/t.co\/NhCDnfy7u8\">pic.twitter.com\/NhCDnfy7u8<\/a><\/p>\n<p>\u2014 AlexisOhanian.eth 7\ufe0f\u20e37\ufe0f\u20e36\ufe0f\u20e3 (@alexisohanian) <a href=\"https:\/\/twitter.com\/alexisohanian\/status\/1488496693549142019?ref_src=twsrc%5Etfw\">February 1, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The total assets under management at Seven Seven Six, including <a href=\"https:\/\/u1f987.com\/en\/news\/polygon-and-reddit-co-founder-launch-a-200m-fund\">the fund launched jointly with the Polygon project<\/a>, reached $750 million.<\/p>\n<p>Ohanian said that over the past decade the team has invested in 24 unicorns and 11 <span data-descr=\"a startup valued at more than $10 billion\" class=\"old_tooltip\">decacorns<\/span>, with almost all funding secured at the early stage.<\/p>\n<p>The portfolio already includes startups valued at more than $1 billion \u2014 Pipe and <a href=\"https:\/\/u1f987.com\/en\/news\/mark-cuban-backs-axie-infinity-nft-game-in-funding-round\">Sky Mavis, the developer of Axie Infinity<\/a>.<\/p>\n<p>Earlier, the venture firm, together with Solana Ventures <a href=\"https:\/\/u1f987.com\/en\/news\/reddit-cofounder-alexis-ohanian-and-solana-ventures-to-launch-100m-fund-for-web3-investments\">established a $100 million fund<\/a> to invest in the growth of Web 3.0 and blockchain-based social networks.<\/p>\n<p>Analysts at Grayscale Investments forecast that annual revenue for the Web 3.0 metaverse sector could reach <a href=\"https:\/\/u1f987.com\/en\/news\/grayscale-forecasts-annual-revenue-for-the-web-3-0-metaverse-sector-to-reach-1-trillion\">$1 trillion<\/a>.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog Feed<\/a> \u2014 all the latest news, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog<\/a> \u2014 the most important news, infographics and opinions<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The venture firm of Reddit co-founder Alexis Ohanian\u2014Seven Seven Six\u2014has created two new funds totaling $500 million.<\/p>\n","protected":false},"author":1,"featured_media":56977,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[2198,1133],"class_list":["post-56976","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-alexis-oganian","tag-venture-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/56976","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=56976"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/56976\/revisions"}],"predecessor-version":[{"id":56978,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/56976\/revisions\/56978"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/56977"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=56976"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=56976"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=56976"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}