Collide Capital Closes $95M Oversubscribed Round For Fund II To ‘Usher In A New Era Of Venture Capital’

The early-stage venture firm was founded in 2021 by Brian Hollins and Aaron Samuels, with a focus on the future of work — particularly AI and automation as it relates to consumer and enterprise innovations — as well as fintech and supply chain, according to a press release.

“I’ve had the privilege to spend my career building communities. From co-founding Blavity Inc. and AFROTECH to launching Collide Capital, the through line has always been the same: build for the most deserving, not the most privileged,” Samuels wrote on LinkedIn.

Collide Capital invests in pre-seed through Series A rounds, and check sizes range from $1 million to $3 million. It has already supported over 75 companies since its inception, including Coldcart, Culina Health, Helios, OneCarNow, and Revi, and has had five exits, notes the release.

Collide Capital also supports its portfolio companies by providing resources, including creating accessible pathways to connect with procurement and revenue teams at various Fortune 500 companies and access to cloud and compute credits from Amazon, Anthropic, Microsoft, and Alphabet, the press release mentions.

Fund II

Collide Capital closed a $66 million Fund I in 2022 and is now further fueled by the closing of Fund II, an oversubscribed $95 million fund, per the release. Limited partners in Fund II include the University of California Endowment (UC Regents), Accolade Partners, Fairview Capital, Goldman Sachs, and JPMorgan, according to TechCrunch.

Collide Capital’s total assets under management are now more than $170 million, according to the press release.

“With a portfolio of over 75 companies, including 5 exits and top quartile Total Value to Paid-In capital (TVPI) for both our exploratory Fund Zero and Fund I, Collide is proud to be one of the few emerging firms to successfully scale from a proof of concept fund to an institutional-grade firm, and ensure longevity for its founders and LPs,” said Hollins, in a press release. “Fund II allows us to double down on our commitment to supporting relentless, tactical, generational founders building enterprise software, and leveraging our hard-won ecosystem-building experience to transition our portfolio companies from early-stage to growth.”

The fund will also support Collide Capital’s training program at higher learning institutions such as Harvard University, Johns Hopkins University, and Stanford University, designed to position undergraduate students to become founders and venture capitalists, notes TechCrunch. There is also an MBA fellowship that exposes participants to real deal sourcing, diligence, and opportunities to work with Collide investors, reports the news release.

These efforts have assisted more than 50 students in both the program and the fellowship, and two have even been onboarded as full-time Collide employees. Others have gone on to work at venture firms such as BEA Venture Fund and General Catalyst, per the release.

“Not only do we invest in the ecosystems we ourselves have built, we also stay close to the institutions that trained us,” Samuels said in the press release. “With Fund II, we’ll continue our MBA Fellowship program and expand our undergraduate scout offering, because ultimately, Collide’s mission is to usher in a new era of venture capital where resources and opportunities are directed toward the most deserving, not just the most privileged.”

Fund II has already made investments in Art Lab, Jelou, Ocho, Prefix, and Sytrex.

The post Collide Capital Closes $95M Oversubscribed Round For Fund II To ‘Usher In A New Era Of Venture Capital’ appeared first on AfroTech.

The post Collide Capital Closes $95M Oversubscribed Round For Fund II To ‘Usher In A New Era Of Venture Capital’ appeared first on AfroTech.