New York (CNN Business) Reddit cofounder Alexis Ohanian's venture capital firm has raised an additional $225 million to invest in early-stage startups.

It is the fourth and largest fund raised by Initialized Capital, the San Francisco-based venture capital firm founded by Ohanian and Garry Tan.

The new fund, announced on Tuesday, comes as Ohanian spends more time with the firm. About nine months ago, he stepped away from his day-to-day role at Reddit, the popular discussion board platform he co-founded in 2005. When Initialized Capital launched in 2012, Ohanian and Tan were also partners at Y Combinator, a Silicon Valley accelerator fund known for helping companies like Airbnb and Dropbox get off the ground.

Tan and Ohanian credit their past experiences as engineers, operators and investors at Y Combinator for their success as investors at their own firm.

Garry Tan (left) and Alexis Ohanian

"We know that investors sitting around a table are not going to be able to come up with the future because we aren't the ones actively building it, but we've seen enough and built enough in the way of software and scalable businesses that our 'Spidey' senses start tingling when we get on the right track with a founder," Ohanian told CNN Tuesday.

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