776 is a venture capital firm founded by Alexis Ohanian, co-founder of Reddit. The firm focuses on early-stage investments, supporting founders who are committed to making a significant impact on the world. 776 employs a proprietary operating system called Cerebro to enhance its investment process and support portfolio companies.
Investment Philosophy
The firm’s name, 776, is inspired by the year of the first Olympic Games, symbolizing the pursuit of excellence and the drive to achieve great accomplishments. This ethos reflects the firm’s commitment to backing founders who are not only aiming for success but also striving to avoid repeating past mistakes.
Key Initiatives
- Growth and Caregiving Commitment: 776 has introduced a 2% “Growth and Caregiving Commitment,” setting aside an additional 2% of each investment to support founders’ personal needs, such as childcare or personal development.
- Diversity and Inclusion: The firm emphasizes equity and inclusion, with half of its limited partners identifying as women and 15% as Black or Indigenous people.
Notable Investments
776 has invested in a diverse range of companies, including:
- Lolli: A bitcoin-back rewards program.
- Pipe: A global trading platform for recurring revenue streams.
- QuickNode: A Web3 developer platform for building and operating blockchain-powered applications.
- Pearpop: A company revolutionizing the creator economy.
- Itsme: An avatar-based social platform.
Recent Developments
In February 2022, 776 closed on $500 million across two vehicles for its second fund, with $300 million allocated for early-stage startups and $200 million for growth-stage companies. This oversubscribed raise reflects the firm’s rapid growth and the confidence of its investors.
Contact Information
For more information or to explore partnership opportunities, visit 776’s official website. Stay updated on their latest news and events by subscribing to their newsletter through the website.
776 remains dedicated to empowering entrepreneurs and fostering innovation across various industries.