Mantis VC, a venture capital firm co-founded by Alex Pall and Drew Taggart, members of the musical group The Chainsmokers, has raised $100 million in commitments for its third fund. This amount marks a $20 million increase from the previous Fund II, which raised $80 million. With this new fund, Mantis VC now manages a total of $225 million across all three funds.
Pall mentioned that raising the funds was challenging due to factors such as inflation, rising interest rates, a stagnant IPO market, global instability, bank failures, and presidential uncertainty.
Fund III will be primarily used to support early-stage technology startups at the Seed and Series A stages. The firm focuses its investments in areas such as cybersecurity, artificial intelligence, healthcare technology, data infrastructure, and emerging technologies like Web3 and gaming.
Notable investors in Fund III include Summit Peak, TriplePoint Capital, Allocate, Mark Cuban, David Blitzer, and Michael Rubin.
In recent years, Mantis VC has invested in a variety of companies, including OpenComp, Certa, Superhuman, Superbloom, Frost Giant Studios, Stardust, Burq, Snickerdoodle, FitOn, Slushy, Tally Health, MoonPay, Pipe, Kalshi, Paybook, Figment, Chainguard, and Acryl Data.
