The Chainsmokers
The Chainsmokers’ VC Firm, Mantis Ventures, Closes $100m Third Fund
A 25% increase on their last round
The Chainsmokers’ venture capital firm Mantis Ventures has secured $100 million in funding commitments for its third fund. As per TechCrunch, this brings the LA-based firm’s total assets under management to $225 million.
Background:
EDM act The Chainsmokers are comprised of Alex Pall and Drew Taggart.
Their hit singles include “Closer,” “Don’t Let Me Down,” and “Something Just Like This.”
Pall and Taggart co-founded Mantis Ventures in 2019 alongside venture capital professionals and entrepreneurs Milan Koch and Jeffrey Evans.
Its debut fund in 2020 secured $35 million in capital commitments.
Its second secured $80 million.
Mantis’ portfolio crosses industries such as logistics, gaming and fintech.
As per Music Ally, Tech In Asia reports that Mantis will be looking for early-stage startups in fields such as AI, cybersecurity, health-tech and data infrastructure.
👋 Disclosures & Transparency Block
- This story was written with information sourced from Music Ally and Music Business Worldwide.
- We covered it because it’s business news relating to a high profile act.
