Reddit co-founder’s VC fund to invest $177 million into crypto sector as ‘everything is on sale’

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Seven Seven Six, the venture capital (VC) firm by Reddit co-founder Alexis Ohanian is planning to make its first direct entry into the crypto space, aiming to raise a $177.6 million fund.

The fund dubbed, ‘Kryptós’ will focus on investing in cryptocurrencies while citing the ongoing market volatility as a perfect opportunity to enter the sector, The Information reported on August 29.

According to the VC firm, the Kryptós fund will primarily invest in cryptocurrencies that trade at more affordable rates following the slump in market prices.

“This is the best time to buy if you’re really long on the industry. It’s on sale. Everything is on sale,” said Katelin Holloway, Founding Partner at Seven Seven Six.

The entry into digital assets follows Seven Seven Six’s April registration as an investment adviser allowing it to invest in cryptocurrencies.


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