Seven Seven Six

Overview

Seven Seven Six is a venture capital firm founded in 2020 by Reddit co-founder Alexis Ohanian and built, in his phrase, like a technology company that deploys venture capital (Adweek). Known as 776, it invests at the earliest stages, runs its operations on a proprietary software platform called Cerebro, and moved sharply toward crypto and Web3 investing with its second funds in 2022 (CoinDesk).

This profile covers the venture firm Seven Seven Six and follows it from its founding through its Alt investment, its $500 million second funds, and its experiment in backing other fund managers.

From Reddit to a software-run venture firm

Ohanian co-founded Reddit and served on its board from 2014 to 2020, helping lead the turnaround of the then-independent company (Adweek). He had co-founded Initialized Capital in 2011 and built it through early investments in companies including Coinbase, Opendoor, Instacart, Patreon and Ro (Adweek). In 2020 he founded Seven Seven Six as a new firm built like a technology company that deploys venture capital (Adweek).

The firm’s first high-profile bet came quickly. In March 2021, trading-card platform Alt wrapped a pair of funding rounds: a seed round led by First Round and a Series A led by Ohanian’s new firm Seven Seven Six (TechCrunch). Crunchbase News corroborated the shape of the deal, listing Seven Seven Six as the Series A lead with First Round, SV Angel and BoxGroup among the round’s investors (Crunchbase News). Eight months later Seven Seven Six was back on Alt’s cap table, among the backers of its $75 million Series B, a round the company said was raised at a valuation of over $325 million (TechCrunch). By the time of Ohanian’s Brandweek biography, the firm reported over $900 million in assets under management (Adweek).

The 2022 crypto pivot and the Titans experiment

In February 2022 the firm raised $500 million across two new funds, taking total assets under management to $750 million (CoinDesk). The newly launched Funds II comprised a $300 million early-stage vehicle and a $200 million fund for Series A and B rounds (CoinDesk). Ohanian told CoinDesk that “a majority of our future investments will likely be in crypto, but we follow the lead of the smartest founders we meet, so if they keep building in Web3, we’ll keep funding them” (CoinDesk). Crypto already accounted for about 40% of the portfolio, including play-to-earn game pioneer Axie Infinity, bitcoin-rewards startup Lolli and crypto-tax company CoinTracker (CoinDesk). The crypto bet had a pedigree: Ohanian was one of the early investors in Coinbase, which had gone public the previous year at a valuation over $85 billion, and 776 had teamed with Ethereum-scaling platform Polygon on a $200 million initiative for social media and Web3 projects (CoinDesk).

Fund	Year	Size and focus
Funds II (two vehicles)	2022	$500 million: $300 million early-stage, $200 million Series A/B
776 Titans Fund (carve-out)	2022	About $10 million backing emerging managers

The software-company framing was more than a slogan. Cerebro, the operating system the firm built for all its work, gave founders a network-search and introduction tool covering over 44,000 contacts, letting them request introductions with one click, routed to the team member with the strongest relationship to the contact (TechCrunch). In March 2022 the firm extended that machinery outward with the 776 Titans Fund, a carve-out of around $10 million from Fund II that backed emerging fund managers — each receiving an initial $500,000 investment plus Cerebro access and ongoing support (TechCrunch). The first three teams to receive checks were Marques Brownlee’s MKBHD Ventures, Allyson and Wes Felix’s Crenshaw Ventures, and Cleo Abram’s Huge If True Ventures (TechCrunch). Ohanian described the goal as backing people “that great founders will absolutely want to make room for on their cap tables,” citing unique distribution, reputation and experience as the differentiators traditional venture firms lacked (TechCrunch). Themes the firm had backed by then spanned generalist, crypto, consumer, policy, hard tech and construction deals (TechCrunch). Alongside investing, Ohanian launched the 776 Foundation in 2022 with a $20 million commitment to climate action through a fellowship programme (Adweek).

What this profile does not claim

• This profile covers Seven Seven Six, the venture firm founded by Alexis Ohanian in 2020 (Adweek). Similarly numbered firms are different entities and are not covered here.
• The Fund II total is reported as $500 million per CoinDesk; a firm social post quoted elsewhere put it at $510 million, and that gap is unresolved.
• The $150 million Fund I close and the 2% “Growth and Caregiving Commitment” appear in secondary coverage but were not confirmed from a source read in full, so neither is asserted.
• Post-2022 fund activity and current assets under management are not stated; the over-$900 million figure is the biography-time figure from Adweek, not a current total.