Mantis Ventures

Mantis Ventures Hits $100M Milestone with Celebrity-Backed Third Fund

Mantis Ventures, the venture capital firm founded by The Chainsmokers duo Alex Pall and Drew Taggart, has successfully closed a $100 million commitment for its third fund. This latest raise boosts the firm’s assets under management (AUM) to a robust $225 million—an impressive achievement in today’s challenging fundraising environment.

Growing Fund Size Signals Strong Momentum

The new fund marks a 25% increase over Mantis’s previous $80 million fund. This growth stands out as many VC firms face difficulties just maintaining their earlier fundraising totals. In an era of tightened capital flows, this expansion underscores continued investor confidence in Mantis’s vision and strategy.

Focused on B2B Innovation

While celebrity-linked investment funds often lean towards consumer brands, Mantis maintains a clear focus on business-to-business (B2B) and enterprise tech. Their portfolio includes companies like cybersecurity startup Chainguard and AI-driven financial analysis firm Rogo—areas where The Chainsmokers' fame might seem less relevant. However, the founders believe their network is a valuable asset for these startups.

Fame as a Lever, Not a Crutch

Pall and Taggart have leveraged their celebrity in creative and effective ways. They’ve hosted private concerts for major Fortune 500 firms, using those experiences to build genuine relationships that aid portfolio companies in securing customer introductions and partnerships. It’s a unique twist that blends entertainment with strategic networking.

What Funds Provide

Mantis Ventures now oversees three funds totaling $225 million. They’ve concentrated earlier capital on enterprise-centric startups, diverging from the consumer-heavy celebrity VC playbook. With an expanded fund, they’re likely to double down on follow-on investments for standout performers in their existing portfolio.

Founder Voices from Behind the Scenes

Mantis’s shift toward B2B isn’t accidental. In several interviews, Pall and Taggart emphasized their genuine interest in helping enterprise startups thrive. They see enduring potential in security, data tools, and AI, holding to the belief that their celebrity can open doors—but the tech must still deliver.

Implications for the VC Landscape

Mantis Ventures’ success signals a refreshing divergence in celebrity-backed investing: it’s not just about flash and consumer glitz. By raising more capital and sticking to an enterprise focus, Mantis is charting a more durable path in venture capital—one that could serve as a model for others with notable platforms.

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