Mantis Venture Capital Research
Investment Thesis
Mantis VC is an early-stage venture capital firm co-founded in 2019 by Alex Pall and Drew Taggart (The Chainsmokers) alongside experienced VC professionals Jeffrey Evans and Milan Koch. The firm invests opportunistically in Seed and Series A technology-enabled startups across a broad range of sectors. Mantis differentiates itself through what it calls 'social capital' — leveraging the founders' deep relationships across tech, media, entertainment, and finance to provide GTM support, customer introductions, brand-building, and talent acquisition assistance to portfolio companies.
The firm set out to prove it was more than a celebrity fund, focusing on building an 'immediately recognized and respected generational fund' through results and hustle. Core to the Mantis value proposition is the team's ability to leverage The Chainsmokers' massive brand and network — having played private shows for nearly every Fortune 500 company — to open doors for portfolio companies in talent recruiting, customer acquisition, and partnerships.
Sector Focus
Mantis invests across a deliberately broad set of technology sectors:
- AI/ML: Additive AI (generative AI for accounting), Factory AI, Rogo (AI financial analyst), StackBlitz, Stability AI, Tavus (personalized video), Openlayer, Product Science
- Cybersecurity: Chainguard (supply chain security), iVerify, c/side, Edera, Zip Security, Bedrock Data, Cloaked, Outtake AI
- Fintech: Pipe, Step, Kalshi, MoonPay, Figment, Pomelo, Arta Finance, Trace Finance, Public, Jeeves, Bitso, Casa, Vise
- Enterprise/SaaS: Alchemy, Superhuman, Dandy, incident.io, Certa, Pocus, Popmenu, FrankieOne, Acryl Data
- Healthcare: NexHealth, Rupa Health, Journey Clinical, Fellow Health, Doctronic, Tally Health, Formation Bio (TrialSpark), LatchBio, Redesign Health
- Gaming: Frost Giant Studios (RTS), Mythical Games, Underdog Fantasy, Faraway Games, Stardust, Draftea, Superbloom, Night Street Games, Notorious Studios
- Consumer: Beacons, Atlys, FitOn, Pogo, Synthesis, Slushy, MagicX Hero, Kyoso
- E-Commerce: Whop, Outer, Rutter, Checkmate, Reshop, Knowde, Bikayi, Haus Analytics
- Frontier/Defense: Mach Industries (hydrogen defense), Fuse Energy (nuclear fusion), Shinkei (robotics/fisheries), Rangeview (manufacturing)
- ESG: Apeel Sciences, Earth (sustainable funerals), Pledge
- Logistics: Veho, Kaya (AI construction), SoapBox, Bego
While the portfolio spans many sectors, there is a notable concentration in fintech, AI/ML, cybersecurity, and enterprise software. Despite the celebrity association, Mantis has a strong B2B orientation — Pall and Taggart have spoken publicly about their primary interest in B2B startups where they see outsized opportunity.
Stage Focus
Mantis focuses on Seed and Series A investments in technology-enabled startups. They invest opportunistically and have occasionally participated in later rounds for portfolio follow-ons (e.g., Nuon $17M Series A, Doctronic $20M Series A). They position themselves as early backers who want to be on the cap table from the beginning.
Check Size
Based on fund sizes and portfolio count (150+ companies across $225M AUM), the typical check size appears to be in the $500K-$2M range for initial investments. With Fund III at $100M and typical deployment across 30-50 companies per fund, initial checks likely range from $1M-$3M at the Seed/Series A stage.
Lead Tendency
Mantis appears to primarily follow or co-invest rather than lead rounds. Given the fund size relative to typical Seed/Series A rounds, they are more likely co-investors alongside larger institutional leads. However, they have led some smaller rounds. Their value proposition centers on being the most helpful investor on the cap table rather than the largest check writer.
Recent Activity
Mantis is actively deploying from Fund III ($100M, closed July 2025). According to Tracxn, they made 11 new investments in the last 12 months as of March 2026:
- March 2026: Scanner (database software)
- February 2026: Monaco (AI-powered sales platform)
- January 2026: depthfirst (Series A)
- January 2026: Doctronic ($20M Series A, healthcare AI)
- September 2025: Kaya AI (AI construction)
- November 2024: Nuon ($17M Series A, BYOC infrastructure)
- November 2024: LTV.ai ($5M Series A)
- September 2024: Uprise ($3M Seed)
The firm's latest fund closed at $100M in July 2025, 25% larger than their previous $80M fund — a notable achievement during a challenging fundraising environment.
Portfolio Highlights
With 150+ portfolio companies, Mantis has built one of the more diversified early-stage portfolios:
Notable Exits/Acquisitions:
- Hamul (acquired by Roblox)
- Projector (acquired by Medium)
- X1 (acquired by Robinhood)
- RenewaFi (acquired)
- Flow (acquired)
Notable Active Companies:
- Chainguard — leading supply chain security company
- Pipe — revenue-based financing platform
- Kalshi — CFTC-regulated event contracts exchange
- Superhuman — premium email platform
- Step — teen banking
- Whop — digital products marketplace
- MoonPay — crypto payments infrastructure
- Dandy — digital dental lab
- Stability AI — generative AI for images
- Alchemy — Web3 developer platform
Team
General Partners (4):
- Alex Pall — Co-founder of The Chainsmokers. Entrepreneur who built a music industry enterprise. Extremely responsive investor known for personal engagement with founders.
- Drew Taggart — Co-founder of The Chainsmokers. Brings entertainment industry relationships and brand power to portfolio companies.
- Jeffrey Evans — Spent 20 years building companies before becoming an investor. The professional VC backbone of the firm alongside Milan Koch. Co-conceived the thesis for Mantis in 2019.
- Milan Koch — Co-founder and Managing Partner. German-born professional VC. Previously Managing Director of Accelerators at AngelHack. Based in Los Angeles.
Partners (3):
- Josh Klein — Partner
- Mac Clark — Partner
- Adam Alpert — Partner
Investment Team:
- Stephen O'Brien — Investor & Head of Platform
- Saveena Mandadi — Principal Investor
- Gaurav Bhogale — Principal Investor
- Caroline Menkes — Investment Associate
- Malisa Gandevani — Chief of Staff to Managing Partner & Operations Associate
The team totals approximately 16 members including 7 partners/GPs and 4 principals.
Decision Process
Mantis operates as a partnership with four General Partners. Investment decisions appear to be made collectively among the GP team. The professional VCs (Evans and Koch) handle deal sourcing and due diligence, while Pall and Taggart contribute deal flow through their extensive entertainment and media networks.
Founder Preferences
Mantis is self-described as 'founder obsessed' — they view the investment as the beginning, not the end, of the relationship. They look for founders with hustle, vision, and willingness to leverage Mantis's unique network. Multiple founder testimonials emphasize Mantis's responsiveness, proactive help with recruiting, customer introductions, and brand amplification. They value diverse founders and perspectives.
Geographic Focus
Primarily US-based with headquarters in Santa Monica, California. The portfolio includes companies from Latin America (Draftea, Trace Finance, Zippi, Bego, Bitso), South Asia (Bikayi, Safepay, Pluang, Priceoye), and other global markets, showing willingness to invest internationally, particularly in fintech and e-commerce.
LP Base & Endorsements
Mantis has attracted notable LPs and earned endorsements from top-tier VCs including Sriram Krishnan (a16z), Shaun Maguire (Sequoia), and Harry Stebbings (20VC). Their broad LP base gives them connectivity to most high-profile individuals in tech and entertainment.
Fund History
- Fund I: $35M (closed September 2020)
- Fund II: $80M
- Fund III: $100M (closed July 2025)
- Total AUM: $225M