Reddit co-founder Ohanian's venture capital firm raises $500 million

FILE PHOTO: Tennis - Wimbledon - All England Lawn Tennis and Croquet Club, London, Britain - July 6, 2019 Alexis Ohanian in attendance for the third round match between Serena Williams of the U.S. and Germany's Julia Goerges REUTERS/Toby Melville

(Reuters) - Reddit co-founder Alexis Ohanian said on Tuesday his venture capital firm 776 Management LLC has raised more than $500 million across two new funds.

The firm was launched in 2020 and has invested in several crypto companies such as bitcoin rewards startup Lolli and crypto tax company CoinTracker.