A news source reported on Monday that <a href="https://sevensevensix.com/" target="_blank" rel="nofollow noopener">Seven Seven Six</a>, the venture capital group run by Reddit co-founder Alexis Ohanian, wants to launch a new $177.6 million cryptocurrency fund, dubbed Kryptós, to invest in tokens.

The Kryptós fund will focus on tokens now available at a discount due to the fall in the cryptocurrency market. Katelin Holloway, a founding partner of Seven Seven Six, said that right now is the ideal moment to purchase if you have a long and rich history in the sector. Seven Seven Six has enrolled as an investment adviser with the US Securities and Exchange Commission (<a href="https://www.cryptoknowmics.com/news/the-sec-allows-us-officials-to-audit-chinese-and-hong-kong-firms/" target="_blank" rel="noopener">SEC</a>). In April, it got the enrollment.
<h2>Kryptos To Levy Investors Management Fee</h2>
According to the fundraising documents, Kryptós will levy investors a 2.5% management fee. Following the papers, it will also earn carried interest, or a 25% portion of the fund's profits, with a potential 35% stake if it returns five times or more capital.

This is the company's first fund with a cryptocurrency focus. The company has already raised two $500 million funds to invest in diverse sectors, including cryptocurrency. It oversees assets worth more than $900 million.
<h2>Companies Raising Funds To Invest In Tokens</h2>
High-profile venture capital companies are increasingly raising money to invest in tokens. <a href="https://www.cryptoknowmics.com/news/sequoia-capitals-china-arm-raises-9-billion-for-four-new-funds/" target="_blank" rel="noopener">Sequoia Capital</a> acquired $500 to $600 million earlier this year to invest mainly in tokens and participate in project governance. A decentralized autonomous organization, or DAO, was also recently established by Bessemer Venture Partners to link people in the crypto community for idea exchange, company growth, and tokenomics.

Reddit Co-Founder's VC Firm Seeks $177.6M to Invest in Tokens

Seven Seven Six, the venture capital group run by Reddit co-founder wants to launch a new $177.6 million cryptocurrency fund to invest in tokens.

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Reddit Co-Founder's VC Firm Seeks $177.6M to Invest in Tokens

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