Friday, 24 March, 2023

Reddit co-founder Alexis Ohanian's 776 Ventures closed $500M fund

<p>Seven Seven Six, also known as 776, announced today that it has closed on $500M for its second fund across two vehicles. The round was &quot;oversubscribed,&quot; with $300M going to startups at the &quot;earliest possible&quot; stage and $200M going to companies at the growth stage, according to 776 founder Alexis Ohanian. It is now in charge of assets worth $750M. The 776 portfolio now includes over 38 companies that have raised over $800M in follow-on capital.</p>