Seven Seven Six, the venture capital company of Reddit co-founder Alexis Ohanian, plans to launch a new $177.6 million crypto fund in October, The Information has reported.
According to the announcement:
“Now there is a unique opportunity to invest in strong founders at a discount.”
The fund will allegedly focus on buying cryptocurrencies like Bitcoin and Ethereum.
Founding partner Katelin Holloway has said:
“There is a sale going on.”
The management fee will be 2.5% of the assets under management, the success fee will be 25% of the profit (35% if the volume of the fund increases five times from the initial level).
