Theory Ventures has raised $450 million for its second fund, according to securities filings viewed by Fortune.

The company was founded in 2023 by Tomasz Tunguz, former managing director of venture capital firm Redpoint. Tunguz made his name at Redpoint by investing in stocks such as data analytics company Looker, which was sold to Google parent Alphabet for $2.6 billion in 2019, and software startup customer service Kustomer, acquired by Facebook parent Meta in 2020 for a reported $1 billion.

This second fund of $450 million is a major step forward from last year’s first fund of $230 million. Tunguz and Theory’s investments to date include data infrastructure platform Allium, blockchain infrastructure company Initia (last valued at $350 million), and open source data operations startup Tobiko .

Theory describes itself as a “theory-driven” company and tends to invest in enterprise software, AI, cryptography and data tools. Among the first venture capital bloggers with a large social media following, Tunguz co-wrote a book titled Win with data in 2016.

Theory Ventures declined to comment.

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