Alumni Ventures
| Company type | Private |
|---|---|
| Industry | Venture capital |
| Founded | 2014 |
| Founder | Mike Collins, Luke Antal |
| Headquarters | Manchester, New Hampshire , United States |
Key people | Mike Collins (CEO) |
| Products | Venture capital funds, co-investments |
Number of employees | 175+ (2021) |
Alumni Ventures (abbreviated as "AV") is a United States-based venture capital firm established in 2014, with its main office located in Manchester, New Hampshire. By 2025, the company oversees roughly US$1.5 billion in assets contributed by around 11,000 individual and institutional backers.
Recognized as one of the most prolific venture capital firms worldwide, AV structures investment funds that enable accredited investors—both individuals and institutions—to participate. The firm exclusively acts as a co-investor, refraining from leading funding rounds or occupying Board positions.
History
Founded in 2014 by Mike Collins and Luke Antal, AV was created with the vision of broadening access to venture capital beyond traditional institutional investors and the ultra-wealthy. Collins, serving as CEO and formerly affiliated with TA Associates, initiated the firm’s first fund, Green D Ventures, which secured $1.5 million from alumni of his alma mater, Dartmouth College.
Over the course of seven years, AV grew to a workforce exceeding 175 employees and became one of the most active venture investors within the United States. This expansion is partly credited to its approach of democratizing venture capital for less seasoned investors, drawing parallels to platforms such as Robinhood Markets.
In 2022, AV was ranked #250 on Forbes’ list of America's Best Startup Employers and featured in Fast Company The World's Most Innovative Companies. The following year, it was recognized among Inc.'s Founder-Friendly Investors.
Structure and fees
AV partners alongside prominent venture firms including Andreessen Horowitz, Benchmark, Sequoia, and Y Combinator.
Operating approximately 45 funds, AV primarily raises capital directly from individual investors with a minimum commitment of $10,000, rather than depending heavily on large institutional sources.
The firm’s alumni-focused funds comprise Green D Ventures (Dartmouth), The Yard Ventures (Harvard), Spike Ventures (Stanford), Castor Ventures (MIT), Purple Arch Ventures (Northwestern), and Strawberry Creek Ventures (UC Berkeley). Some students have expressed concerns regarding AV’s promotion of these funds in a manner that may imply official university endorsement, which is inaccurate.
AV manages 10 "Focused Funds" dedicated to sectors such as healthcare, sports, and artificial intelligence. Additionally, it provides the AV Syndicate option that allows investors to participate on a deal-by-deal basis alongside its pooled funds.
Despite handling a substantial volume of deals, AV maintains a discreet public presence by investing without taking seats on company boards or exerting influence over strategic decisions. As a result, some company founders are unaware of AV’s ownership involvement.
On March 4, 2022, the U.S. Securities and Exchange Commission (SEC) imposed a $700,000 penalty on AV for providing misleading information in contracts and violating operating agreements. The SEC determined that AV inaccurately represented its fee structure by stating a conventional annual management fee of 2% plus a 20% performance fee; however, AV actually charged an upfront management fee equal to 20%, covering ten years’ worth of fees.
Furthermore, the SEC accused AV of improperly commingling fund assets through unauthorized loans and transfers in breach of fund agreements. AV attributed these compliance failures to inadequate marketing materials. In response to regulatory actions, AV paid the fines, refunded $4.8 million in fees to investors, and appointed a new compliance officer who implemented revised policies requiring all fee-related communications by staff to undergo thorough review.
Investments
Among the significant investments made by AV are Groq, Rigetti Computing, Axiom Space, Oura Health, RapidSOS, Bluesky, and Circle.