{"id":66522,"date":"2022-08-31T11:25:38","date_gmt":"2022-08-31T08:25:38","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=66522"},"modified":"2025-09-07T01:48:02","modified_gmt":"2025-09-06T22:48:02","slug":"reddit-co-founder-to-raise-177-6m-for-new-crypto-fund","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/reddit-co-founder-to-raise-177-6m-for-new-crypto-fund\/","title":{"rendered":"Reddit co-founder to raise $177.6m for new crypto fund"},"content":{"rendered":"<p>The venture firm of Reddit co-founder Alexis Ohanian\u2014Seven Seven Six\u2014will launch the Kryptos fund in October with a size of $177.6 million. The documents were reviewed by <a href=\"https:\/\/www.theinformation.com\/articles\/alexis-ohanians-seven-seven-six-targets-177-6-million-for-crypto-token-fund\">The Information<\/a>.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;There is a unique opportunity to invest in strong founders at a discount,&#8221;<\/em> the marketing materials say.<\/p>\n<\/blockquote>\n<p>The fund will focus on acquiring cryptocurrencies such as Bitcoin and Ethereum.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;There is a sale under way,&#8221;<\/em> Katelin Holloway, a founding partner, commented.<\/p>\n<\/blockquote>\n<p>The management fee will be 2.5% of AUM, with a 25% carried interest on profits (35% if the fund&#8217;s size increases fivefold from the initial level).<\/p>\n<p>Kryptos will be the first Seven Seven Six fund to focus exclusively on purchasing cryptocurrencies.<\/p>\n<p>Earlier in February 2022, Alexis Ohanian&#8217;s firm <a href=\"https:\/\/forklog.news\/soosnovatel-reddit-privlek-500-mln-v-dva-kriptofonda\/\">\u0441\u043e\u0431\u0440\u0430\u043b\u0430 $500 \u043c\u043b\u043d<\/a> for two structures.<\/p>\n<p>The aggregate assets under management by Seven Seven Six, including the <a href=\"https:\/\/forklog.news\/polygon-i-soosnovatel-reddit-uchredili-fond-na-200-mln\/\">\u0437\u0430\u043f\u0443\u0449\u0435\u043d\u043d\u043e\u0433\u043e \u0441\u043e\u0432\u043c\u0435\u0441\u0442\u043d\u043e \u0441 \u043f\u0440\u043e\u0435\u043a\u0442\u043e\u043c Polygon \u0444\u043e\u043d\u0434\u0430<\/a> reached $750 million.<\/p>\n<p>Earlier, Polygon cofounder Sandeep Nailwal<a href=\"https:\/\/forklog.news\/soosnovatel-polygon-zapustil-fond-na-50-mln-dlya-investitsij-v-web3-proekty\/\"> \u043f\u0440\u0438\u0432\u043b\u0435\u043a $50 \u043c\u043b\u043d<\/a> for investments in Web3 projects.<\/p>\n<p>Follow ForkLog&#8217;s bitcoin news on our <a href=\"\/\/telegram.me\/forklog\u201d\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The venture firm of Reddit co-founder Alexis Ohanian\u2014Seven Seven Six\u2014will launch the Kryptos fund in October with $177.6 million. The Information reviewed the fund&#8217;s documents.<\/p>\n","protected":false},"author":1,"featured_media":66523,"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-66522","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":"14","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66522","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=66522"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66522\/revisions"}],"predecessor-version":[{"id":66524,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66522\/revisions\/66524"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/66523"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=66522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=66522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=66522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}