The VC firm founded by Alexis Ohanian, Seven Seven Six, is planning to raise $177 million for a new crypto centric fund.
a $200 million social media Web3 fund. On Monday, The Information’s report says the fund Kryptós is looking to raise $177 million and it will invest in crypto assets. Last April, Seven Seven Six was approved to operate as a registered investment advisor , and Clark reports that her publication read the Kryptós fund marketing paperwork.
The Kryptós fund paperwork notes that there’s “potentially a unique opportunity” to obtain crypto investment vehicles “at a discount.” Now that Seven Seven Six is a registered investment advisor, it can invest in digital assets and manage the fund for a fee. Clark’s report further cites one of the founding partners at Ohanian’s venture capital firm, Katelin Holloway, who is quoted as saying “everything is on sale,” when it comes to crypto investment vehicles Kryptós could acquire.
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