Report: Reddit Co-Founder Alexis Ohanian’s Seven Seven Six Targets $177M for a Crypto-Centric Fund Called Kryptós

According to a caller report, the task superior steadfast founded by Alexis Ohanian, Seven Seven Six, is readying to rise $177 cardinal for a caller crypto-centric fund. The caller Seven Seven Six money called Kryptós volition ore connected investing successful cryptocurrencies similar bitcoin and ethereum.

Seven Seven Six Launches Cryptocurrency Fund Kryptós — Plans to Go Live successful October

On August 29, 2022, The Information newsman Kate Clark published a report that noted Reddit co-founder Alexis Ohanian’s Seven Seven Six is raising wealth for a caller crypto-focused money called Kryptós. The institution has been down a fig of investments tethered to the crypto and Web3 industry. For instance, Seven Seven Six led the Ethereum Web3 wallet level Rainbow’s $18 cardinal backing round.

In mid-December 2021, Seven Seven Six teamed up with Polygon to launch a $200 cardinal societal media Web3 fund. On Monday, The Information’s study says the money Kryptós is looking to rise $177 cardinal and it volition put successful crypto assets. Last April, Seven Seven Six was approved to run arsenic a registered concern advisor (RIA), and Clark reports that her work publication the Kryptós money selling paperwork.

The Kryptós money paperwork notes that there’s “potentially a unsocial opportunity” to get crypto concern vehicles “at a discount.” Now that Seven Seven Six is simply a registered concern advisor, it tin put successful integer assets and negociate the money for a fee. Clark’s study further cites 1 of the founding partners astatine Ohanian’s task superior (VC) firm, Katelin Holloway, who is quoted arsenic saying “everything is connected sale,” erstwhile it comes to crypto concern vehicles Kryptós could acquire. Holloway further added:

This is the champion clip to bargain if you’re truly agelong connected the industry.

The crypto wintertime has not slowed VCs and businesses looking to put successful crypto-related products, projects, tokens, and companies successful 2022. With the quality to put straight into crypto assets similar BTC and ETH, it tin vie with concern funds offered by Sequoia Capital and Andreessen Horowitz (a16z). Seven Seven Six plans to complaint a 2.5% absorption interest for Kryptós and the money aims to spell unrecorded successful October 2022.

What bash you deliberation astir the VC steadfast Seven Seven Six targeting $177 cardinal for a caller cryptocurrency money called Kryptós? Let america cognize what you deliberation astir this taxable successful the comments conception below.