Reddit Co-Founder Alexis Ohanian is doubling down on managers as he announced a new initiative called the 776 Titans Fund.
In an interview with TechCrunch, Ohanian said that the fund will focus on "emerging managers, each with their own influential distribution channels and unique operational experience in backing start-up ventures." The fund expects to invest approximately $10 million in managers.
The Reddit co-founder added that the fund has already backed Marques Brownlee of MKBHD Ventures, brother and sister Allyson and Wes Felix of Crenshaw Ventures, and Cleo Abram of Huge If True Ventures. Ohanian noted that his venture firm 776 believes that all of these managers "will produce outsized returns."
In January this year, Alexis Ohanian with the team behind Ethereum scaling solution called Polygon revealed a new $200 million initiative focused on projects developing “the future of social media and Web3." Ohanian wrote in a tweet that Web3 represents the whole future of the Internet with the initiative to support not only social media but also games.