The Chainsmokers' Mantis VC Closes $100M Third Fund

Mantis VC Secures $100 Million for Third Fund

Mantis VC, a venture capital firm established with contributions from Alex Pall and Drew Taggart – members of the renowned electronic music duo The Chainsmokers – has successfully garnered $100 million in pledged investments for its latest fund.

Fund Growth and Market Context

This new fund represents a 25% increase in size compared to Mantis’ prior $80 million fund. This growth is particularly significant given the current challenges faced by many venture capital firms in maintaining or expanding their capital base.

Investment Focus: B2B Sector

Mantis VC distinguishes itself by concentrating its investments in B2B (business-to-business) companies. Examples of their portfolio include Chainguard, a cybersecurity specialist, and Rogo, an AI-driven financial analysis startup.

The value of the founders’ celebrity connections might not be immediately obvious in these sectors, setting Mantis apart from many other celebrity-backed venture firms.

Strategic Approach to Leveraging Fame

Unlike many celebrity venture capitalists who prioritize consumer-facing businesses, Pall and Taggart have publicly stated their preference for B2B startups. They believe substantial opportunities exist within this market segment.

Despite this focus, the partners have effectively utilized their public profile to benefit their portfolio companies. Pall revealed that The Chainsmokers have performed exclusive performances for a vast majority of Fortune 500 corporations.

Building a Valuable Network

These performances have facilitated the development of a robust network. Mantis VC is now actively utilizing this network to generate valuable customer introductions for its portfolio companies.

Key benefits include access to decision-makers and potential clients within major organizations.