Manhattan Is The Coolest Home For VC Funds As Reddit Co-Founder Raises $39 Million For Initialized Capital


According to VentureBeat, Reddit co-founder Alexis Ohanian and fellow angel investors Garry Tan and Harj Taggar, both partners at Y Combinator, have raised $39 million for a new VC fund, Initialized Capital.

There is surprisingly little information available on the exact kind of startups the trio will be investing in, beyond the catch-all “early-stage consumer Internet companies.” Initialized Capital previously raised a $7 million fund, and have so far invested an undisclosed amount in NewHive, a creative expression platform still in beta.

Regardless, Initialized Capital will probably be one of the more fun VC offices to join in the coming months. Ohanian, Tan and Taggar are all in their late 20s, and the company’s official offices are in Manhattan, along with another millenial-led VC firm, Bowery Capital, whose founders ditched AOL Ventures earlier this year.