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Reddit Co-Founder Alexis Ohanian announced on Wednesday he will step down from daily duties at the internet company and focus his attention on Initialized Capital.

Initialized Capital is the early stage venture capital firm that he co-founded and is known for investments such as Coinbase and Instacart. He will continue to sit on Reddit’s board, WSJ reported.

The 34-years-old Ohanian said the timing of his decision reflected a number of personal and professional factors, including his marriage last year to tennis superstar Serena Williams and the birth of their daughter, Alexis Jr. Ohanian said the decision also reflected his confidence in Reddit’s renewed growth, and his desire to focus his professional energy on investment opportunities in emerging technologies such as blockchain.

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