Mantis VC Closes $100-Million Fund to Strengthen Position as Business-Building Partner to Early-Stage Tech Startups

Los Angeles-headquartered Mantis VC has announced the close of its third fund at $100 million, which will back early-stage technology startups across cybersecurity, healthtech, deeptech, AI and infrastructure. Founded in 2019, Mantis is led by general partners Jeffrey Evans, Milan Koch, Alex Pall and Drew Taggart, who have raised $225 million across three funds and invested in over 170 startups through the firm.

“Fund III is a defining milestone for Mantis,” Evans said. “It’s a reflection of the trust we’ve built through real results with category-leading investments and a culture-first approach to venture. Raising this fund is about doubling down on our mission to be the most connected and impactful partner on the cap table. With Fund III, we have the capital, the platform and the community to help the next generation of innovators win bigger and faster than ever before. Founders deserve investors who don’t just sit on cap tables but rather build with them, open doors and move at founder speed. We’re raising the bar for what real partnership looks like in venture.”

Limited partners in the new fund include Summit Peak, TriplePoint Capital and Allocate, with entrepreneurs Mark Cuban, David Blitzer and Michael Rubin reaffirming their commitment to Mantis after investing in the firm’s earlier funds. Funds I and II backed startup unicorns Chainguard, Underdog and Dandy, with notable exits including Coinbase and Rupa Health. Mantis’ debut fund, closed in 2020, is currently performing in the top decile of its vintage.

Samir Kaji, co-founder and CEO at Allocate, said, “At Allocate, we evaluate nearly 1,000 private market funds each year and select only a limited group for our platform. We chose Mantis to be on the platform based on their differentiated approach, thoughtful articulation of their investment strategy and clear alignment with early-stage founders. In our view, Mantis brings a distinctive perspective to venture investing, combining cultural connectivity with disciplined execution.”

Mantis VC is a partnership between Alex Pall and Drew Taggart (also known as electronic DJ and production duo The Chainsmokers) and experienced investor-entrepreneurs Jeffrey Evans and Milan Koch.

As Mantis prepares to scale its operations, the firm has expanded its investment team with the appointment of Gaurav Bhogale as principal, AI and Infrastructure, adding deep vertical expertise and connectivity within the Silicon Valley startup ecosystem. He joins cybersecurity lead Saveena Mandadi, healthcare lead Caroline Menkes, plus investor and head of platform Steve O’Brien on the Mantis Investment Committee, alongside the general partners.

Mandadi, a prominent figure in the security community with a presence at Black Hat and Women in Cybersecurity, has spearheaded the development of Mantis’ CISO advisory committee as the team seeks to enhance support for founders. O’Brien continues to lead strategic initiatives across brand, investor relations and platform, recently striking a partnership with Palantir to power data-driven fund operations. Together, the team plans to create further breakout opportunities, amplified by the unique cultural reach of Mantis and The Chainsmokers’ combined networks.

Information sourced from Mantos VC. Learn more at mantisvc.com.