According to TechFlow, relevant investment documents show that Seven Seven Six, a venture capital firm launched by Reddit co-founder Alexis Ohanian in 2020, is planning to raise US$776 million for two new funds, an increase of more than 50% over last year.

The firm has had a rocky start since launching in 2020. It made some ill-timed bets on NFT projects (such as Yuga Labs) in early 2022 when cryptocurrency prices were falling, and Seven Seven Six suspended fundraising for a planned crypto fund last year. But the firm told potential investors that its first fund, launched in 2021, has soared in value, documents show. Original link