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 20% bigger than Mantis’s earlier $80 million fund, a notable achievement at a time when many enterprise corporations are struggling to keep up their current fund sizes or safe new capital.
Mantis has invested in B2B firms, similar to cybersecurity agency Chainguard and AI monetary analyst startup Rogo, the place the worth of their superstar standing might not be instantly obvious.
Whereas most superstar VCs concentrate on shopper firms, Pall and Taggart informed TechCrunch final fall that their main curiosity lies in B2B startups, the place they see significant opportunities.
The duo has discovered a manner to make use of their fame to assist their portfolio firms, nonetheless. The Chainsmokers have performed personal reveals for practically each Fortune 500 firm, Pall stated, and that have has helped construct a community that the agency is leveraging for buyer introductions.