Alumni Ventures Group collects nearly $30 mln for three funds

Alumni Ventures Group has raised nearly $30 million for its three annual funds: Green D Ventures, Chestnut Street Ventures, and Purple Arch Ventures. The funds enabled alumni from Dartmouth, University of Pennsylvania and Northwestern, respectively, to back ventures of fellow alums. Each fund raised $7.5 million to $10 million.



Today, Alumni Ventures Group (AVG) announced that it is closing on nearly $30M in capital raised from three of its annual funds: Green D Ventures, Chestnut Street Ventures, and Purple Arch Ventures. The funds enable accredited alums from Dartmouth, University of Pennsylvania, and Northwestern, respectively, to invest in the ventures of fellow alums of those entrepreneur-heavy universities. Each fund individually raised $7.5-10 million in capital, to be invested in a portfolio of 20-30 venture deals across stage, sector, and geography over the next year.

The annual fund model applies to most of the 25 funds under the Alumni Ventures Group management umbrella. Green D is now on its fifth annual fund, and Chestnut Street and Purple Arch are on their second funds. Each of these funds is seeing substantial growth over their previous raises.

Michael Collins, CEO of Alumni Ventures Group, puts the recent fundraises in perspective. “We launched this company in 2014 with the first Green D Ventures fund. That was just a $1.5M fund. We’ve grown from there to become one of the most active venture firms in the world, raising and investing between $150-200 million over a twelve-month period between all of our 25 funds. That’s the equivalent of a $600 to $800 million venture fund that raises every four years.”

Though the AVG funds have a 10-year term, the company has already experienced exits and up rounds. Of AVG’s 165 investments that have been held more than six months, 65 have had exits, IPOs, or up rounds.

Collins reports those early wins are just part of the funds’ appeal. “We give venture access to many accredited investors who previously couldn’t participate in this asset class,” he said. “In contrast to a lot of other venture firms that put the entry minimum at $10 million and up, most of our funds have a $50,000 minimum. Community is another important part of our story. Our investors like joining with fellow alums and giving back to the next generation of entrepreneurs from their alma maters.”

Laura (Bordewieck) Rippy, Managing Partner of Green D Ventures, echoes that sentiment. “Though we’re not affiliated with the school, investors understand that backing fellow alums builds the entrepreneurial story of their alma mater. As a Dartmouth grad myself (’89), I see the magic of the alumni connection in greatly increasing our ability to link to great investors, entrepreneurs, and fellow VCs.”

AVG’s offerings continue to expand to address appetite from other alumni for the same access to venture capital. Recent fund launches include Waterman Ventures for Brown alums, Nassau Street Ventures for Princeton grads, Towerview Ventures for Duke alums and Little Ivy Ventures for Little Ivy grads.

About Alumni Ventures Group
Alumni Ventures Group offers accredited investors a smart, simple way to invest in venture capital—a key asset class missing from the portfolios of many sophisticated investors. Since launching its first venture fund in 2014, AVG’s global referral and expert network has grown to 25 alumni and focused funds and 150,000 supporters. AVG is now one of the most active venture investors in the world, evaluating hundreds of opportunities every year and typically delivering fund investors a portfolio of 20-30 diversified deals. With offices in five locations and more school and specialty funds in development, AVG continues to expand and deliver on its core value proposition: offering a way for individuals to easily access venture assets. AVG funds are private, for-profit, and not affiliated with or sanctioned by any school.