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The Chainsmokers’ Mantis Ventures closes $100M third fund
Mantis Ventures, co-founded by The Chainsmokers' Alex Pall and Drew Taggart, has successfully raised $100 million for its third fund, surpassing its previous fund by 25%. Unlike many celebrity VCs that focus on consumer brands, Mantis is investing in B2B startups and leveraging their fame to enhance portfolio company networking.
Key points
- Mantis Ventures has closed its third fund with $100 million in commitments.
- This amount exceeds their previous fund of $80 million by 25%.
- Many venture firms are currently struggling to raise funds, making this an exceptional achievement.
- Mantis has invested in B2B companies like Chainguard (cybersecurity) and Rogo (AI financial analysis).
- Pall and Taggart leverage their celebrity status for networking opportunities, using connections from private performances for Fortune 500 companies.
Why it matters
- The rise of celebrity involvement in venture capital aligns with the growing interest in startups from notable figures.
- By 2025, B2B technology investments are expected to continue increasing, reflecting trends in digital transformation.
- The shift among VCs towards B2B startups indicates a focus on sustainable growth areas amidst economic uncertainties.
Mantis Ventures' ability to raise a larger fund and invest strategically in B2B shows a promising trend in leveraging celebrity influence effectively, potentially reshaping the venture capital landscape.