Initialized Capital raises $225 million for fourth fund

Initialized Capital, the venture firm led by Reddit co-founder Alexis Ohanian and early Palantir engineer Garry Tan, has raised $225 million for its fourth fund.

Why it matters: This is a major fund size increase for Initialized, which means it should be able to fund more deals on its own, whereas before it was often forced to lead so-called "party rounds."