Alumni Ventures (AV) is an American venture capital firm founded in 2014 and headquartered in Manchester, New Hampshire. As of 2025, it managed approximately US$1.5 billion in assets from 11,000 individual and institutional investors. AV is among the most active venture firms globally, creating investment funds for individual accredited investors and institutions. The firm operates exclusively as a co-investor, never leading financing rounds or taking board seats.
AV's investment approach extends to artificial intelligence, with dedicated funds targeting AI startups. The firm leverages its extensive network of alumni from top universities to source deals and provide capital to emerging companies in sectors including AI, healthcare, and space.
History
AV was founded in 2014 by Mike Collins and Luke Antal. Collins, who previously worked at TA Associates, aimed to make venture capital accessible to individual investors, moving beyond the traditional institutional and ultra-wealthy clientele. The firm's first fund, Green D Ventures, raised $1.5 million from Dartmouth College alumni.
Within seven years, AV grew to over 175 employees and became one of the most active venture investors in the U.S. Its growth is partly attributed to its pitch to democratize markets for less experienced investors, similar to Robinhood Markets. AV ranked #250 in Forbes' America's Best Startup Employers and appeared on Fast Company's The World's Most Innovative Companies in 2022. In 2024, it was recognized on Inc.'s Founder-Friendly Investors list.
Structure and Fees
AV co-invests with prominent firms such as Andreessen Horowitz, Benchmark, Sequoia, and Y Combinator. Across approximately 45 funds, the firm focuses on raising capital directly from individuals, with a minimum investment of $10,000, rather than relying on large institutional funding.
Its alumni funds include Green D Ventures (Dartmouth), The Yard Ventures (Harvard), Spike Ventures (Stanford), Castor Ventures (MIT), Purple Arch Ventures (Northwestern), and Strawberry Creek Ventures (University of California, Berkeley). Some students have criticized the marketing of these funds as misleading, as they may appear university-sanctioned when they are not affiliated with the universities.
AV operates 10 "Focused Funds" with specific themes, including health, sports, and artificial intelligence. It also offers the AV Syndicate for deal-by-deal investing. Despite its large deal flow, AV maintains a low profile, avoiding board seats to influence company direction. Some founders are unaware of AV's ownership stake.
On March 4, 2022, the U.S. Securities and Exchange Commission (SEC) fined AV $700,000 for misleading contract statements and breaching operating agreements. The SEC alleged that AV's marketing claimed an industry-standard 2% management fee and 20% performance fee, but AV actually assessed a 20% management fee upfront, representing 10 years of 2% annual fees. The SEC also alleged commingling of fund assets through loans and transfers, despite prohibitions in operating agreements. AV attributed the issues to sloppiness in marketing materials, paid the fine, returned $4.8 million in fees to investors, and hired a new compliance officer to revise policies.
Investments
Notable AV investments include Groq, Rigetti Computing, Axiom Space, Oura Health, RapidSOS, Bluesky, and Circle. In the AI space, AV has backed companies developing machine learning and generative AI technologies, aligning with its focused funds.
AI Focus
AV's artificial intelligence focus is part of its broader strategy to invest in transformative technologies. The firm's AI-related funds target startups working on deep learning, neural networks, and large language models. By co-investing with leading firms, AV provides capital to AI innovators while maintaining its passive, co-investor role.
References
- Source facts provided.
External links
Official website