Entrepreneur and investor Alexis Ohanian venture firm ‘Seven Seven Six’ has raised $150 million for its first fund. Multiple Grand-Slam winner Serena Williams took to Twitter in order to congratulate her husband on the gigantic achievement.
Last year, Alexis Ohanian had announced that he has decided to part ways with Initialized Capital, the venture firm he co-founded alongside Garry Tan in 2011. Almost a year later, the entrepreneur has announced that his new venture firm called ‘Seven Seven Six’ has raised $150 million for its very first fund.
‘The name of the firm ‘Seven Seven Six’ is derived from the first year of the Olympics’: Alexis Ohanian
The name of the company ‘Seven Seven Six’ is derived from the first year of the Olympics in which a cook ended up winning the Stadion race. Talking about it, Ohanian said “when I thought about that track record, and all the things that I’ve been proud of as an entrepreneur and investor, I couldn’t help but feel like I was celebrating the cook. I’m still very proud of that track record, but I know that I could have done better. I want the idea that we’re always on the first starting line trying to do better in pursuit of greater returns.”
Replying to Alexis’ tweet where he informed about his achievement, Serene wrote “today was a big day for @alexisohanian. About a year ago he started something special called @sevensevensix, today he closed on $150 million. He started with this amazing idea and now he is shining bright. Keep shining bae keep shining #proudwife.”
Talking about equity and inclusion in the firm, Ohanian said that half of the firm’s limited partners are women, and 15 percent are black or indigenous people. One of the biggest names in the game of tennis Serene Williams was extremely pleased by her husband’s efforts.
The champion athlete was recently defeated by Elena Rybakina in the fourth round of the French Open 2021 after displaying incredible performances in the first three rounds.