Alexis Ohanian, Reddit cofounder, venture capitalist, and enthusiastic Twitter user, quietly announced a new initiative last week out of his venture firm, Seven Seven Six (776): the 776 Titans Fund. The new fund, as the firm describes it, plans to "focus on emerging managers, each with their own influential distribution channels and unique operational experience in backing start-up ventures." The firm added in a statement that each fund will operate independently and will receive an initial $500,000 investment from 776, along with access to Cerebro (the proprietary operating system of the firm), and ongoing support from Series, an enterprise digital finance platform whose seed round was led by 776.

Already, three teams have received checks from Ohanian & Co.: Marques Brownlee of MKBHD Ventures (Brownlee has become renowned for his tech-focused videos on his YouTube channel and is focusing broadly on early-stage startups); brother and sister Allyson and Wes Felix of Crenshaw Ventures (Allyson is a five-time Olympian and founder of a lifestyle brand, and the two plan to invest in web3, metaverse and fintech companies); and Cleo Abram of Huge If True Ventures (Abram is an Emmy-nominated video producer and journalist who is looking for moonshot ideas).

To find out more, we reached out Ohanian last week with some questions. He responded to them via email.

TC: Is the "Titans fund" a carve-out of the $500 million in capital across two funds that 776 announced last month or a separate fund of funds? Also, how much money is there to invest altogether?

AO: It’s a carve-out from Fund II, and we're investing around $10 million.

What's the criteria for investment?

We’re looking for folks who great founders will absolutely want to make room for on their cap tables. Why? The combination of unique distribution and/or their reputation and experience. We’re looking for the things that traditional VCs don’t have. This differentiation is what the best founders are looking for — everything else is just capital.