Mantis VC announced in July 2025 that it had closed its third fund at $100 million. Bloomberg reported that the close brought the firm’s assets under management to $225 million across three funds. Mantis is a venture-capital firm whose partners include The Chainsmokers’ Alex Pall and Drew Taggart, alongside investors Jeffrey Evans and Milan Koch.
What Mantis VC’s $100 million fund figure means
The $100 million is the size of Mantis VC’s Fund III—not the firm’s total assets or the amount invested in any one company. The Los Angeles Times reported the close on July 23, 2025, while Bloomberg reported on July 15 that the fund brought Mantis’ assets under management (AUM) to $225 million across three funds. AUM and a single fund’s size are different measures: AUM refers to the assets managed across the firm’s funds.
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TechCrunch reported that Fund III was 25% larger than Mantis’ preceding $80 million fund. That comparison establishes a larger fund, not a change in strategy or evidence of investment performance.
| Measure | Reported figure | What it describes |
|---|---|---|
| Fund III | $100 million | Fund size at the July 2025 close, as reported by the Los Angeles Times and Bloomberg. |
| Mantis VC AUM | $225 million | Assets under management across three funds after Fund III’s close, as reported by Bloomberg. |
| Preceding fund | $80 million | Reported by TechCrunch; the publication also described Fund III as 25% larger. |
What Fund III invests in
The Los Angeles Times described Fund III as targeting early-stage companies in cybersecurity, healthtech, deep tech, artificial intelligence and infrastructure. Mantis’ own description is broader: the firm says it invests in seed and Series A technology-enabled startups. The sector list describes the fund’s reported areas of interest; the seed and Series A description identifies the stages Mantis says it targets.
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TechCrunch cited cybersecurity company Chainguard and AI financial analyst startup Rogo as examples of Mantis’ business-to-business investments. Those examples illustrate the firm’s portfolio, but do not establish the composition or performance of Fund III.
Who runs Mantis VC?
The four named general partners are Jeffrey Evans, Milan Koch, Alex Pall and Drew Taggart. Pall and Taggart are members of The Chainsmokers; Mantis’ official About page describes the firm as a partnership between the musicians and experienced venture-capital professionals and entrepreneurs Koch and Evans.
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The Los Angeles Times named Summit Peak, TriplePoint Capital and Allocate among Fund III’s limited partners. It also reported that Mark Cuban, David Blitzer and Michael Rubin reaffirmed earlier commitments. Limited partners provide capital to a fund; general partners manage it and make investment decisions.
What The Chainsmokers’ network may add
Mantis says it helps founders with branding, storytelling, warm introductions, and connections to design partners, early customers and potential hires. These are the firm’s stated support areas, not independently measured outcomes.
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TechCrunch reported Alex Pall’s explanation that private performances for nearly every Fortune 500 company helped the duo build a network that Mantis can use for customer introductions. That is Pall’s account of how the network complements the firm’s investing; it should not be read as a guarantee that portfolio companies will gain customers.
What is known about Mantis’ track record
The Los Angeles Times reported that Mantis had invested in more than 170 startups by the time of its July 2025 article. The same report characterized the debut fund as performing in the top decile for its vintage. The report did not provide the underlying performance data or benchmark, and the characterization applies to the debut fund—not Fund III. The available reporting does not establish Fund III’s investment returns.
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Fund IV is a separate, later fundraising development
A later F4 activity page, drawing on a June 2026 report, said Mantis had reportedly begun raising a fourth fund with a $100 million target. That is a reported target, not confirmation that Fund IV closed. It does not change the historical fact that the $100 million Fund III closed in July 2025.
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