For its third fund, Mantis Ventures, the venture capital company co-founded by musical duo The Chainsmokers, has lined up $100 million in financing pledges. According TechCrunch, the new fund adds 25% from Mantis‘ past worth of $80 million, therefore increasing the Los Angeles-based companies total assets under management to $225 million.
Along with venture capital experts and business people Milan Koch and Jeffrey Evans, Alex Pall and Drew Taggart, the artists of hits like “Closer,” “Don’t Let Me Down,” and “Something Just Like This,” act as general partners of Mantis. Evans created TigerConnect, then known as TigerText, a mobile communications platform and Buskin Records.
According to its website, the 2019-founded venture capital firm invested in Seed & Series, a technologically empowered firm. For its inaugural fund in 2020, Mantis raised capital commitments of $35 million.
Cybersecurity company Chainguard Inc., sports betting site Underdog Sports LLC, and artificial intelligence financial platform Rogo Technologies Inc. make up Mantis portfolio. Bloomberg said the company also supported Coinbase Global Inc. before its public premiere.
Early investments include fitness app Fiton and mortgage-lending company LoanSnap. With many recent investments centered in the Bay Area, Mantis just opened a San Francisco office to support its Los Angeles headquarters. In addition to their venture capital firm, Pall and Taggart have also been angel investors in companies like Ember, a Los Angeles-based company that produces temperature-controlled mugs.
