Investment group broadens its horizonsStaff report
September 18. 2018 8:01PM
MANCHESTER — An investment group that has specialized in setting up private venture funds for graduates of Harvard, Stanford and Yale is stepping outside the Ivy League.
Alumni Ventures Group (AVG) is opening four new funds Wednesday for accredited investors, increasing its offerings to 25 with the launch of the Elite Engineers Fund, the B-School Fund, Little Ivy Ventures and the Midwest Value Fund.
Like most of its products, the funds will offer accredited investors a portfolio of 20 to 30 diversified companies with deals led by co-investors such as Andreessen Horowitz, Kleiner Perkins, Google Ventures, and similar firms, according to a news release.
Three of the new funds are open to all accredited investors: Elite Engineers invests in alums of top engineering schools, the B-School Fund invests in top business school grads, and the Midwest Value Fund creates venture portfolios in opportunities outside California, New York and Massachusetts, AVG said.
The fourth fund, Little Ivy Ventures, pools capital from alumni of Bowdoin, Middlebury, Amherst, Williams and Tufts to back startups founded by alumni. Each fund is targeting an annual raise of $5 million to $10 million.
Michael Collins, CEO of Alumni Ventures Group, said the new funds address a common request.
“Since we started in 2014, we’ve served the alumni of a small group of very exclusive universities. We have private venture funds for grads of schools like Harvard, Stanford, Cornell, UPenn, Yale and Dartmouth,” Collins said in a statement. “But we kept hearing from other investors, who’d ask, ‘I went to Penn State, what about me?’ These new funds address that need.”
In four years, Alumni Ventures Group has reached nearly 2,200 investors and created a portfolio of more than 200 unique deals, the company said. More than 150,000 supporters subscribe to its newsletters, forward deals and socialize the fund.
AVG funds are private, for-profit, and not affiliated with or sanctioned by any school.