Alexis Ohanian’s Seven Seven Six Targets $177.6 Million for Crypto Token Fund – The Information

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Alexis Ohanian’s Seven Seven Six Targets $177.6 Million for Crypto Token Fund – The Information

Seven Seven Six, the venture capital firm led by Reddit co-founder Alexis Ohanian, plans to raise $177.6 million for a new fund focused on investing in cryptocurrency tokens, according to documents from fundraising consulted by The Information.

The new fund, named Kryptós, will be the company’s first, two years ago, to focus exclusively on crypto. It will seek to capitalize on the recent months-long selloff in cryptocurrencies like bitcoin and ethereum, which has extended to digital tokens issued by blockchain startups. “Now is potentially a unique opportunity to invest in strong founders at a discount,” according to the fundraising documents. The company plans to launch the fund in October, according to the documents.

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