In a funding climate where many venture firms are tightening their belts, Los Angeles-based Mantis VC is moving confidently in the other direction.
The firm just locked in $100 million for its third fund, a major milestone that signals growing confidence from both institutional and individual investors.
Big Names Join the Party
This new fund, dubbed Fund III, attracted support from some heavyweight limited partners.
On the list are Summit Peak, TriplePoint Capital, and Allocate, alongside high-profile entrepreneurs like Mark Cuban, David Blitzer, and Michael Rubin.
Their backing shows a serious belief in what Mantis is building — not just hype.
Targeting Early-Stage Innovation
With Fund III, Mantis plans to write checks between $500,000 and $2 million, focusing on early-stage startups working in the boldest areas of innovation. That includes:
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Cybersecurity
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Artificial Intelligence
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Frontier technologies
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Data and cloud infrastructure
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Healthtech
The team is looking for founders working on the future, not the familiar.
A Track Record That Speaks Volumes
Mantis launched in 2019, and it’s already made waves.
The firm’s leadership includes Jeffrey Evans, Milan Koch, and yes, Alex Pall and Drew Taggart — better known as the Grammy-winning duo The Chainsmokers.
But their investment acumen is quickly catching up to their musical fame.
So far, across its first two funds, Mantis has raised a total of $225 million and backed more than 170 startups.
Their bets have included unicorns like Chainguard, Underdog, and Dandy, and they’ve already had some major wins — including exits in companies like Coinbase and Rupa Health.
Building a Stronger Investment Team
Alongside the launch of Fund III, Mantis is also expanding its team.
They’ve brought on Gaurav Bhogale as Principal focused on AI and infrastructure — a clear nod to the firm’s growing focus on deep tech.
He joins other key figures like:
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Saveena Mandadi, leading cybersecurity
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Caroline Menkes, heading healthcare
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Steve O’Brien, investor and Head of Platform
These new additions work closely with the firm’s general partners on the Mantis Investment Committee, shaping the future of their portfolio.
Betting on Visionaries
As the firm dives into this next chapter, Mantis is clearly doubling down on founders building what’s next — not just what’s popular.
Their approach blends music-industry instincts for talent-spotting with rigorous venture discipline, and it’s turning heads across both Silicon Valley and Wall Street.