Mantis Ventures has successfully raised $100 million for its third investment fund, surpassing the previous fund's $80 million target. This increase occurs amidst a challenging fundraising environment for many venture capital firms. The firm ventures primarily into B2B startups rather than the more common consumer-focused companies seen with other celebrity investors. The Chainsmokers, co-founders of Mantis, utilize their fame to enhance the ventures in their portfolio, leveraging personal connections built through performances at Fortune 500 companies to facilitate networking opportunities.
Mantis Ventures, co-founded by Alex Pall and Drew Taggart, has secured $100 million for its third fund, 20% larger than the previous fund.
In contrast to typical celebrity VCs focusing on consumer companies, Mantis Ventures prioritizes B2B startups, seeing substantial opportunities in this sector.
The Chainsmokers utilize their celebrity status to assist portfolio companies, having played private shows for Fortune 500 companies, which helps in making valuable connections.
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