The Chainsmokers’ Mantis Ventures closes $100M third fund

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 present fund sizes or safe new capital.

Mantis has invested in B2B firms, akin to cybersecurity agency Chainguard and AI monetary analyst startup Rogo, the place the worth of their celeb standing might not be instantly obvious.

Whereas most celeb VCs deal with client firms, Pall and Taggart instructed TechCrunch final fall that their main curiosity lies in B2B startups, the place they see significant opportunities.

The duo has discovered a means to make use of their fame to assist their portfolio firms, nonetheless. The Chainsmokers have performed non-public exhibits for practically each Fortune 500 firm, Pall mentioned, and that have has helped construct a community that the agency is leveraging for buyer introductions.