• Guest Post   |
  • Submit App Review   |
  • Submit PR   |
  • Advertise   |
  • Contact Us
  • Login
No Result
View All Result
Advertisement
Mobile App Development | Design | Marketing Magazine: Appedus
Subscribe
  • Home
  • App Development
  • App Marketing
    • All
    • App Onboarding
    • App Store Optimisation
    • App User Engagement
    • Push Notifications
    5-Ways-To-Promote-Your-Mobile-App-In-A-Smarter-Way-scaled-appedus

    5 Ways To Promote Your Mobile App In A Smarter Way

    Get-Your-App-The-Most-Downloads-On-The-Apple-App-Store-Appedus

    How To Get Your App The Most Downloads On The Apple App Store

    Upcoming-App-Events-in-2023-Appedus

    Upcoming App Events in 2023

    Why-Mobile-Marketing-is-The-Future--Appedus

    Why Mobile Marketing is The Future?

    Trending Tags

      • App Store Optimisation
      • App User Engagement
      • App Push Notifications
      • App Onboarding
      • App Analytics
    • App Design
    • App Reviews
      • All
      • Books & Reference
      • Business
      • Dating
      • Education
      • Finance
      • Fitness
      • Food & Drink
      • Health
      • iOS apps
      • Lifestyle
      • Medical
      • Photography
      • Productivity
      • Shopping
      • Social
      • Travel
      • Utilities
      • Video Editing
      6-iOS-Productivity-Apps-I-Cant-Live-Without-appedus

      6 Best iOS Productivity Apps You Can’t Live Without

      7-Reasons-Why-Every-Business-Should-Be-Mobile-Friendly-appedus

      7 Reasons Why Every Business Should Be Mobile-Friendly

      The-top-ten-mobile-apps-all-travellers-should-use-appedus

      The top ten mobile apps all travelers should use

      5-Ways-To-Promote-Your-Mobile-App-In-A-Smarter-Way-scaled-appedus

      5 Ways To Promote Your Mobile App In A Smarter Way

      What-To-Do-If-Your-Cell-Phone-Is-Lost-or-Stolen-appedus

      What To Do If Your Cell Phone Is Lost or Stolen

      Free-Android-Meme-Maker-Appedus

      5 Best Free Android Meme Maker

      Zerodha Kite App Review

      Zerodha Kite App Review: A great way to start investing

      Crello App Review

      Crello App Review 2022 | An Attractive Editing Tool

      8fit App Review

      8fit App Review 2022 | Workouts and Meal Planner

      Trending Tags

      • Travel
      • fitness
      • Video Editing app
      • Utilities
      • Lifestyle
      • Medical
      • Photography
      • Productivity
      • Shopping
      • Social
      • Travel
    • App Events
    • Exclusive
    • Home
    • App Development
    • App Marketing
      • All
      • App Onboarding
      • App Store Optimisation
      • App User Engagement
      • Push Notifications
      5-Ways-To-Promote-Your-Mobile-App-In-A-Smarter-Way-scaled-appedus

      5 Ways To Promote Your Mobile App In A Smarter Way

      Get-Your-App-The-Most-Downloads-On-The-Apple-App-Store-Appedus

      How To Get Your App The Most Downloads On The Apple App Store

      Upcoming-App-Events-in-2023-Appedus

      Upcoming App Events in 2023

      Why-Mobile-Marketing-is-The-Future--Appedus

      Why Mobile Marketing is The Future?

      Trending Tags

        • App Store Optimisation
        • App User Engagement
        • App Push Notifications
        • App Onboarding
        • App Analytics
      • App Design
      • App Reviews
        • All
        • Books & Reference
        • Business
        • Dating
        • Education
        • Finance
        • Fitness
        • Food & Drink
        • Health
        • iOS apps
        • Lifestyle
        • Medical
        • Photography
        • Productivity
        • Shopping
        • Social
        • Travel
        • Utilities
        • Video Editing
        6-iOS-Productivity-Apps-I-Cant-Live-Without-appedus

        6 Best iOS Productivity Apps You Can’t Live Without

        7-Reasons-Why-Every-Business-Should-Be-Mobile-Friendly-appedus

        7 Reasons Why Every Business Should Be Mobile-Friendly

        The-top-ten-mobile-apps-all-travellers-should-use-appedus

        The top ten mobile apps all travelers should use

        5-Ways-To-Promote-Your-Mobile-App-In-A-Smarter-Way-scaled-appedus

        5 Ways To Promote Your Mobile App In A Smarter Way

        What-To-Do-If-Your-Cell-Phone-Is-Lost-or-Stolen-appedus

        What To Do If Your Cell Phone Is Lost or Stolen

        Free-Android-Meme-Maker-Appedus

        5 Best Free Android Meme Maker

        Zerodha Kite App Review

        Zerodha Kite App Review: A great way to start investing

        Crello App Review

        Crello App Review 2022 | An Attractive Editing Tool

        8fit App Review

        8fit App Review 2022 | Workouts and Meal Planner

        Trending Tags

        • Travel
        • fitness
        • Video Editing app
        • Utilities
        • Lifestyle
        • Medical
        • Photography
        • Productivity
        • Shopping
        • Social
        • Travel
      • App Events
      • Exclusive
      No Result
      View All Result
      Mobile App Development | Design | Marketing Magazine: Appedus
      No Result
      View All Result
      Home Business

      Alexis Ohanian’s Seven Seven Six closes a new $500M venture fund

      Seven Seven Six, or 776, portfolio now includes over 38 companies that have obtained over $800 million in follow-on financing.

      by Editorial Team
      February 2, 2022
      in Business, Featured, Funding, News-Curated
      Reading Time: 3 mins read
      0
      Seven Seven Six
      Share on FacebookShare on Twitter

      Main Highlights:

      • Seven Seven Six, or 776, said today that it has closed on $500 million in capital for its second Fund, which will be split between two vehicles.
      • The Fund was “oversubscribed,” with $300 million going to enterprises at the “earliest feasible” stage and $200 million to startups.
      • The 776 portfolio now includes over 38 companies that have obtained over $800 million in follow-on financing.

      Seven Seven Six, or 776, said today that it has closed on $500 million for its second Fund across two vehicles. The round was “oversubscribed,” with $300 million going to businesses at the “earliest feasible” stage and $200 million going to firms in their development stages — or when they begin to break out, as 776 founder Alexis Ohanian puts it.

      Notably, 776 recently completed its first $150 million — likewise oversubscribed — round. It now manages $750 million in assets. Ohanian explained that they observed high markups on their early investments in Fund I and were forced to raise this second Fund sooner than anticipated. They continued, “Good problems to have.”

      About Seven Seven Six:

      alexis ohanian seven seven six 1

      Currently, the 776 portfolio consists of over 38 firms that have raised above $800 million in follow-on finance. Interestingly, according to Ohanian, the business usually always leads the rounds it participates in.

      Among the 776 portfolio companies are Alt, an alternative asset trading platform; Pipe, a global trading platform that allows recurring revenue streams to be traded for their annual value; Axie Infinity, a web3 play-to-earn online gaming universe that has grown over 200x in the last year; and Metafy, a video game education platform that connects players with champion-level gaming coaches. The pipe was valued at $2 billion at its most recent financing round, while Axie Infinity was valued at $3 billion in October.

      Ohanian, who co-founded Reddit and Initialized Capital, told The Wall Street Journal that 776 intends to invest “mainly in crypto businesses” with its new Fund and that crypto-related firms account for 40% of its existing portfolio. Crypto investments are off to a strong start in 2022, following record enthusiasm in 2021.

      When asked about the crypto focus, Ohanian told that 776 “follows the lead of the most intelligent founders we meet.” According to Ohanian, if they continue to create on Web3, we will pay them. Additionally, they’re seeing a significant push into climate technology, space technology, food technology, and plain, old-fashioned SaaS enterprises.

      Concerning how 776 sources transactions, the investor stated that it is now a “very old-fashioned” approach. Leads are generated mainly by email or text and then routed through Cerebro, the operating system his business designed. That will improve this year with the addition of several new products to broaden their top-of-funnel reach.

      Cerebro is the company’s initial offering, and it enables entrepreneurs to scan 776’s network of 44,000 contracts and seek introductions with a single click. The technology’s rationale was straightforward. According to Ohanian, they have an excellent network that responds to their emails, and it is not a suitable assignment for a human brain to be asked, ‘hey, do you know anyone at Twitter? Are you familiar with a machine learning engineer? It’s far more convenient to query a database whenever you want. He explained that all of 776’s work is housed there, which is also by design.

      This provides openness and responsibility — not only inside the team but also with their founders and investors, Ohanian explained. The idea is to scale the most valuable and productive portions of the work first so that when they spend time with their founders, they are doing work that only people can do successfully (empathy, strategy, creativity).

      When 776 launched its first Fund, the business said explicitly that it targeted a diverse investor base, with 50% of investors being female and 15% being Black or Indigenous.

      So what about it now?

      All of the firm’s limited partners are invited to participate in a biennial, comprehensive demographic study. According to the most current study, 51% of 776’s LPs identify as female, 13% as Black or Indigenous, and 10% as Latino/a/e. It does not have stated diversity targets for its founders. 

      To strengthen its position as a resource for founders, Ohanian said, 776 has begun delivering “read receipts,” or monthly accountability reports, for the services it performs for its founders. He stated that that is their engine’s exhaust.

      mm

      Editorial Team

      We at Appedus are a group of digital nomads aggregating, writing, and publishing the best of the tech news in the mobile app ecosystem. Our constant endeavor is to get the most actionable news for you to use.

      Next Post
      Google One

      Google One VPN is now available for iOS devices

      Weekly Newsletter

      Top Apps This Week

      Google Now Just Made It Even Easier To Track Your Favorite TV Shows And Movies
      Featured

      Google Now Just Made It Even Easier To Track Your Favorite TV Shows And Movies

      by Editorial
      January 7, 2023

      Today’s announcement by Google of a new feature for their...

      Read more
      6-iOS-Productivity-Apps-I-Cant-Live-Without-appedus

      6 Best iOS Productivity Apps You Can’t Live Without

      December 31, 2022
      7-Reasons-Why-Every-Business-Should-Be-Mobile-Friendly-appedus

      7 Reasons Why Every Business Should Be Mobile-Friendly

      December 26, 2022
      Load More

      About Us

      Mobile App Development | Design | Marketing Magazine: Appedus

      Appedus is a mobile app ecosystem focused news publishing platform which covers various topics like app design, app development, app marketing and other relevant news, views or opinions. We also publish industry insights, e-books, developer interviews and e-magazines. You can get in touch with us on hola@appedus.com or you can snail mail us at

      Medianiti Ltd. Brooklands Business Park, Wellington Way, Weybridge KT13 0TT, United Kingdom

      Latest Articles & News

      5 Best Android App Development Tools and Platforms

      5 Best Android App Development Tools and Platforms

      January 11, 2023
      How To Be A Good Android Developer

      How To Be A Good Android Developer

      January 10, 2023

      Important Links

      • Guest Post
      • Submit App Review
      • Submit PR
      • Mobile App Marketing
      • Mobile App Reviews | Top Android & iOS app reviews
      • Top Apps
      • Curated News
      • Advertise
      • Contact Us

      Subscribe

      • Advertise
      • App Events
      • Appedus
      • Contact Us
      • Exclusive at Appedus
      • Our Authors, Contributors & Writers
      • Privacy Policy
      • Submit App for Review
      • Submit Free Press Release
      • Thank You
      • Tip-Off
      • Write For Us | Mobile App Development Guest Post
      • Write For Us | Mobile App Development Guest Post Paid

      © 2022 Appedus - Appedus All Right Reserved

      No Result
      View All Result
      • Advertise
      • App Events
      • Appedus
      • Contact Us
      • Exclusive at Appedus
      • Our Authors, Contributors & Writers
      • Privacy Policy
      • Submit App for Review
      • Submit Free Press Release
      • Thank You
      • Tip-Off
      • Write For Us | Mobile App Development Guest Post
      • Write For Us | Mobile App Development Guest Post Paid

      © 2022 Appedus - Appedus All Right Reserved

      Welcome Back!

      OR

      Login to your account below

      Forgotten Password?

      Retrieve your password

      Please enter your username or email address to reset your password.

      Log In
      This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
      Go to mobile version