Mantis Ventures, the enterprise capital agency co-founded by Alex Pall and Drew Taggart of the digital DJ group The Chainsmokers, has raised $100 million in commitments for its third fund.
At $100 million, the agency’s latest fund is 25% bigger than Mantis’ earlier $80 million fund, a notable achievement at a time when many enterprise companies are struggling to take care of their current fund sizes or safe new capital.
Mantis has invested in B2B corporations, akin to cybersecurity agency Chainguard and AI monetary analyst startup Rogo, the place the worth of their movie star standing is probably not instantly obvious.
Whereas most movie star VCs deal with client corporations, Pall and Taggart informed TechCrunch final fall that their main curiosity lies in B2B startups, the place they see vital alternatives.
The duo has discovered a means to make use of their fame to assist their portfolio corporations, nonetheless. The Chainsmokers have performed non-public reveals for almost each Fortune 500 firm, Pall stated, and that have has helped construct a community that the agency is leveraging for buyer introductions.
