The Chainsmokers’ Mantis Ventures Secures $100 Million for Third Investment Fund

Mantis Ventures, a venture capital firm co-founded by Alex Pall and Drew Taggart of the renowned electronic DJ duo The Chainsmokers, has secured commitments totaling $100 million for its third fund. This latest fund represents a 25% increase over Mantis’ previous $80 million fund, an impressive feat considering the current challenging environment in which many venture capital firms are grappling with maintaining existing fund sizes or acquiring new capital.

The increased fund size underscores Mantis Ventures’ growth and success in the venture capital landscape. The firm has demonstrated a strategic focus on investing in B2B companies, such as cybersecurity firm Chainguard and AI financial analyst startup Rogo, where the value of their celebrity status may not be immediately apparent.

However, Pall and Taggart have clarified that their primary interest lies in B2B startups, where they perceive substantial opportunities for growth. In an interview  last fall, the duo emphasized their belief in the potential of these businesses.

Despite their celebrity status, Pall and Taggart have found innovative ways to leverage their fame to support their portfolio companies. The Chainsmokers have played private shows for nearly every Fortune 500 company, according to Pall, which has contributed to the development of a extensive network that Mantis Ventures is leveraging for customer introductions. This strategic approach further underscores the duo’s commitment to driving success in their investments.