According to an SEC filing, Alexis Ohanian, the co-founder of Reddit and early-stage VC firm Initialized Capital, is raising a new fund, named 776, with a target of $150 million. The filing comes three months after the entrepreneur left Initialized Capital and a month after The Information first reported on his plans. Ohanian declined to comment on details regarding the fund due to general solicitation restraints.
Along the filing, the fund launched an intentionally cryptic new website: sevensevensix.com. It appears that the name of the fund is a reference to when the first Olympics were held, in 776 B.C.E.
The website reads: “The first Olympics brought the best athletes from all over the known world to determine who was the greatest. The first competition was a 192m footrace; it was won by a cook from a nearby village. We’re going back to that very first starting line.”