The Chainsmokers’ Mantis Ventures closes $100M third fund

Mantis Ventures, the venture capital firm established by Alex Pall and Drew Taggart, known for their role in the electronic music duo The Chainsmokers, has successfully raised $100 million for its third investment fund. This new fund marks a significant increase of 25% compared to their previous fund, which totaled $80 million. This achievement is particularly impressive given the current climate in the venture capital industry where many firms face challenges in maintaining or growing their capital. The firm has strategically focused on investing in B2B companies, including notable cybersecurity firm Chainguard and the AI-driven financial analysis startup Rogo. Despite the celebrity status of its founders, Mantis Ventures is not following the typical path of celebrity investors who often target consumer-focused businesses. Instead, Pall and Taggart expressed to TechCrunch their strong preference for B2B startups, where they perceive considerable potential for growth. Furthermore, the duo is leveraging their high-profile connections to benefit their portfolio companies. Having performed for numerous Fortune 500 companies, Pall highlighted how these experiences have allowed them to build a robust network that facilitates valuable customer introductions, ultimately enhancing the prospects of their investments.