Seven Seven Six – a US-based venture capital firm founded by Reddit’s creator Alexis Ohanian – will reportedly raise a $177 million fund to invest in the cryptocurrency market. The company plans to allocate the amount directly into digital assets that are currently trading way below their all-time high levels.
Earlier this year, Ohanian raised $500 million for Seven Seven Six. The funds were meant to support the development of early-stage cryptocurrency startups.
“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.
“I do think Ethereum [has], at least for the next year or two, really got the most to prove, or at least the most potential to show something because there are so many interesting applications,” he said at the time.
“First, I get you the SerenaPunk, now I get the pink ape you wanted… you realize I’m only gifting you NFTs from now on, right,” Ohanian commented under his wife’s post.