Reddit Co-Founder Alexis Ohanian Plans $150 Million Investment Fund

Topline

Reddit co-founder Alexis Ohanian is starting a $150 million investment fund, according to SEC documents, the entrepreneur’s first project since stepping down earlier this year and asking Reddit to replace him on the company’s board with a Black candidate.

Key Facts

Key Background

Ohanian made headlines earlier this year when he resigned from Reddit’s board and asked for a Black candidate to replace him. The announcement came amid nationwide Black Lives Matter protests following the death of George Floyd. “I’m saying this as a father who needs to be able to answer his black daughter when she asks, what did you do?” Ohanian, who is married to tennis star Serena Williams, said in a video posted on Twitter explaining the decision.

Tangent

Serena Williams is also an active investor herself. Williams was the first athlete ever to hit Forbes’ annual list of the World’s Richest Self-Made Women in 2019. She has invested in more than 50 startups over the past six years through her investment firm Serena Ventures, which has a portfolio worth at least $10 million.