Alumni Ventures

Alumni Ventures Research Investment Thesis & Vision Alumni Ventures is America's largest venture capital firm for individual investors, built on a "network-powered" model that democratizes access to elite venture capital opportunities. Founded in 2014 by Mike Collins and Beth Obermiller, AV has revolutionized VC by aggregating thousands of accredited individual investors into professionally managed funds and enabling deal-by-deal investing. The firm's core conviction is that venture capital should be accessible to individual investors, not just institutions, and that a powerful network creates compounding value for all stakeholders—investors, founders, and portfolio companies. AV's unique positioning as a co-investor-of-choice means they deliberately do not lead rounds or take board seats. Instead, they slot into deals alongside elite VCs like a16z, Sequoia, Khosla, Bessemer, and Y Combinator, applying rigorous diligence and providing access to their massive 850,000+ community member network and 11,000+ individual accredited investors. Investment Focus & Sectors Alumni Ventures maintains an exceptionally broad investment mandate across multiple industry verticals and stages. Their team of ~40 full-time venture investors is organized into 10 autonomous teams, each with deep sector expertise: Core Investment Areas: AI & Frontier AI : AI-native infrastructure, frontier models, consumer AI applications, AI copilots, AI-wrapped service firms, vertical and enterprise AI, synthetic data, cybersecurity for AI era Healthcare & Biotech : AI-driven drug discovery, biosecurity, human performance, longitudinal health platforms, full-stack care, data/compliance platforms, operational infrastructure, bioengineering Advanced Technology & Physics : Frontier AI models, consumer AI, creator infrastructure, digital worlds generation, physical automation, smart infrastructure, robotics, semiconductors, quantum computing Aerospace & Space : Space infrastructure, orbital systems, space transportation, satellite technology for mineral exploration Energy & Climate : AI for climate/energy, energy independence, energy innovation, advanced power systems Financial Systems : Embedded fintech, next-gen financial platforms, digital assets, blockchain protocols, decentralized networks Consumer & Mobility : Super apps, luxury short-term rentals, fantasy sports, wearables, edge AI devices Manufacturing & Industrial : Physical AI, robotic systems, industrial autonomy, advanced industry transformation Portfolio highlights across 100+ sectors include Groq ($6.9B valuation), Cohere, Lambda Labs, Precision Neuroscience, Synchron, Oura (5.5M+ rings sold), Circle, Mysten Labs, Bluesky, Impulse Space, Yassir (nearly $2B GMV), and many others. Stage Focus & Investment Size Alumni Ventures invests across all venture stages: Pre-Seed to Series C+ : No stage restrictions; evaluated on upside vs. price Typical Check Size : $10,000 minimum for individual investors to $3,000,000 Fund Structure : Most funds target 20-30 companies per fund with 20% reserves for follow-on opportunities Check Size Range for AV : Varies by fund and deal, but typically $500K-$5M+ for individual rounds Capital : $1.4B+ raised since 2014, 1,600+ historical and current portfolio companies, adding ~250/year Lead Tendency & Co-Investment Strategy Alumni Ventures' defining feature is that they follow, never lead . This is intentional and strategic: They rely on elite lead VCs (a16z, Sequoia, Khosla, Bessemer, Y Combinator, Founders Fund, Kleiner Perkins) to source and lead rounds AV provides rigorous diligence and acts as a co-investor of choice alongside these brands Co-investments with a16z: 51 deals Co-investments with Y Combinator: 56 deals Co-investments with Khosla Ventures: 56 deals Co-investments with Sequoia: 25 deals This network-powered model is AV's core competitive advantage Team & Leadership Executive Leadership: Michael Collins (Founder & CEO): Serial entrepreneur who started multiple companies including Kid Galaxy and Big Idea Group (partially owned by WPP). Launched AV's first alumni fund (Green D Ventures) and now oversees the full AV platform. James Gill (Co-Founder & Lead Director): Founding team member, now Lead Director Mark Edwards (Chief Investment Officer): Seasoned private equity executive and early AV investor, CIO of the platform Ludwig Pierre Schulze (Board Director): Executive Managing Partner with fintech experience serving 12M+ people Beth Obermiller (Co-Founder, Board Member Emeritus): Co-founder of AV alongside Mike Collins Global Presence : 7 offices across US (Boston, NYC, Chicago, Menlo Park, Manchester NH HQ), UK (London), and Japan (Tokyo). Team of ~120 full-time employees, ~40 of which are venture professionals. Recent Activity & Fund Status 2025-2026 Momentum: Named #20 on TIME Magazine's "America's Top 20 Venture Firms" (2025) — only firm in Top 50 dedicated exclusively to individual investors Named #20 on CB Insights' "Top US VC Firms" (2024) Named #7 on Stanford GSB's "Top Unicorn Investors Founded in 2009+" (2025) Top 3 Most Active VC Firms (PitchBook, 2018-2024) Top-Decile DPI performance (Carta, 2024) Recent Investments (Feb 2026 onwards): RapidFort and Grid Aero (2026) Machina Labs (Feb 2026) 6+ investments in 2026 already Portfolio Performance: 1,600+ historical and current investments Notable exits: NVIDIA acquisition of Groq ($20B+), Snowflake acquisition of Observe, Circle IPO ($6B valuation), Groq Series C at $6.9B Consistent top-quartile performance across 2016-2020 fund vintages Geographic & Sector Coverage Geographic Focus: Primary: US (all major hubs—SF Bay Area, NYC, Chicago, Boston, emerging tech hubs) Secondary: UK, Europe, Japan, Latin America Global perspective with selective international investments Founder Preferences & Engagement: Seek founders with entrepreneurial DNA, operational excellence, market insight, and coachability Value founders with shipping experience and proven ability to build Co-founder experience valued highly Support includes strategic capital, downstream capital access, operational guidance, customer introductions, and access to 850,000+ network Decision Process & Timeline Decision Making: Partnership model: Investment committees (5-10 experienced VCs & angels) guide fund construction Office of Investing (OOI) supports portfolio construction and deal diligence Team of ~40 full-time investors organized into 10 autonomous teams Decisions driven by quality of founders, market opportunity, and fit with AV network Decision Timeline: Structured 18-month deployment window per fund Regular investment committee reviews and updates Deal-by-deal decisions on syndicates typically move faster (monthly deal flow) Investor Experience For Individual Investors: Minimum investment: $10,000 typical, range $10K-$3M Two paths: Fund investing (20-30 companies, hands-off) or deal-by-deal syndicate (active selection) Fee structure: 2% annual management fee collected upfront, 80/20 profit split after capital return One-time capital call, no surprise fees Diversification across stage, sector, geography, and lead investor 20% follow-on reserve in funds for high-conviction companies Tax documentation handled professionally Mobile app and dashboard for portfolio transparency Programs: Diamond Club : Exclusive rewards and priority access for committed investors Next Gen Family Office Club : For emerging family office leaders Investing Clubs : Small curated groups (10-20 members) meeting monthly Concierge Services : White-glove venture deal flow for capital allocation goals Syndicate Platform : Free deal flow with $100 swag store credit sign-up bonus Financial Details Fund Metrics: $1.4B+ capital raised cumulatively AUM: Not disclosed publicly, but 11,000+ active investors suggests $1B+ under management Portfolio size: 1,600+ companies Annual additions: ~250 companies/year Fund size range: Varies by fund ($50M-$250M+) Return targets: Top-decile DPI (distributions to paid-in capital) Notable Exits & Returns: Groq: $6.9B valuation (Series C) Oura: ~$11B valuation (Series E), 5.5M+ rings sold Circle: IPO candidate, $6B+ valuation Lambda Labs: Microsoft multi-billion dollar partnership, preparing IPO 2026 Function Health: $100K+ waitlist, strong consumer demand Yassir: $2B GMV, 3 of 5 daily purchases in Algeria Frequently Co-Investing Partners Top co-investors demonstrating strong repeat partnerships: Andreessen Horowitz (a16z) Sequoia Capital Y Combinator Khosla Ventures Bessemer Venture Partners Founders Fund Kleiner Perkins General Catalyst Lightspeed Benchmark Accel Index Ventures Competitive Advantages Network Scale : 850,000+ community members, 11,000+ accredited investors create network effects Deal Flow Access : Co-investment with elite VCs gives first-look opportunities Hands-On Support : ~40 dedicated venture professionals provide CEO services to portfolio founders Founder Friendly : Ranked on Inc. Magazine's "Most Founder-Friendly Investor List" (2024) Professionalism : Stress-free tax docs, mobile app, professional investor relations Capital Efficiency : Co-investing strategy means rigorous diligence without leading round overhead Multi-Staged : Can participate pre-seed through late stage, allowing founder relationships across journey Summary Alumni Ventures is the premier venture platform for individual investors seeking professional-grade access to early-stage and growth-stage companies. With a proven business model, top-decile returns, recognized industry leadership, and a massive engaged network, AV has successfully democratized venture capital while maintaining institutional-quality deal sourcing and diligence through strategic co-investment partnerships. The firm's deliberate strategy to follow elite leads rather than lead rounds positions them as a preferred co-investor while their network of individual investors provides unique CEO support value to portfolio founders.