Seven Seven Six plans to raise $776 million for two new funds, an increase of over 50% compared to last year

ChainCatcher news indicates that investment documents show that the venture capital firm Seven Seven Six, launched by Reddit co-founder Alexis Ohanian in 2020, is planning to raise $776 million for two new funds, an increase of over 50% compared to last year.

It is reported that since its launch in 2020, the firm's start has not been smooth, suffering losses in early 2022 from bets on NFT projects (such as Yuga Labs), and also pausing a planned fundraising for a crypto fund last year. However, documents show that the firm has informed potential investors that the value of its first fund, launched in 2021, has skyrocketed. (The Information)