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 20% bigger than Mantis’s earlier $80 million fund, a notable achievement at a time when many enterprise corporations are struggling to take care of their present fund sizes or safe new capital.
Mantis has invested in B2B firms, resembling cybersecurity agency Chainguard and AI monetary analyst startup Rogo, the place the worth of their movie star standing might not be instantly obvious.
Whereas most movie star VCs deal with shopper firms, Pall and Taggart advised TechCrunch final fall that their major curiosity lies in B2B startups, the place they see important alternatives.
The duo has discovered a method to make use of their fame to assist their portfolio firms, nonetheless. The Chainsmokers have performed non-public reveals for practically each Fortune 500 firm, Pall mentioned, and that have has helped construct a community that the agency is leveraging for buyer introductions.