Collide Capital, one of the largest Black-owned first-time funds, announced the close of its $66M Fund I. To date, Collide has backed over 40 companies, of which more than 80 percent are led by Black, Latinx or female founders.
Collide is the first venture fund to be simultaneously backed by Amazon, Alphabet, Twitter and the University of California Endowment. Additional LPs joining the fund include Bank of America, Citi, Northwestern Mutual, Bain Capital, Insight Partners and Lightspeed Venture Partners, among others.
A word from the sponsors
Collide Capital’s mission is to direct investment to the founders most prepared to build generational companies. With institutional training from Goldman Sachs, Bain & Co, Harvard Business School and Stanford Graduate School of Business, Collide founders Aaron Samuels and Brian Hollins want to give their communities of under-networked founders a sizable advantage through their connection to VC-funding, knowledge and hands-on operational support.
“At Alphabet, we invest in companies and people who are passionate about using technology to change how we live for a better future,” said Jeremiah Gordon, General Counsel and Chief Compliance Officer at CapitalG, Alphabet’s growth equity fund. “Aaron and Brian are building a powerful ecosystem. Connecting us to the founders who are working to solve the next generation of global challenges. We are excited to bring the resources of Alphabet to its diverse portfolio of founders. This Fund I is just the beginning for Collide Capital. We’re excited to see what the future holds for them.”
“Aaron and Brian bring investment acumen and operator expertise to their portfolio, coupled with a demonstrable track record of funding diverse and women-led teams,” said Jon Chen, VP of Corporate Development & Strategy at Twitter. “Twitter continues to prioritize its investments in the teams, companies and funds that represent diverse and underrepresented groups. We’re proud to support Collide Capital’s Fund I and join them in the pursuit of a more diverse and inclusive tech industry.”
University of California Endowment
“Brian and Aaron are building an innovative venture capital fund that represents the future of the VC industry,” said Jagdeep Singh Bachher, Chief Investment Officer of the UC Regents. “Our investment in Collide Capital supports their vision. We hope that this work inspires students in the University of California system and beyond. It’s truly remarkable.”
Collide Capital’s vision
Collide Capital will usher in a new era of venture capital. Resources and opportunities will be directed toward the most deserving founders by backing a high-performing portfolio. Diverse founding teams will be in charge of creating solutions for the next generation. Samuels and Hollins believe great investors find their roots in the communities they source deals from. And Collide Capital has proven experience building leading systems of change, including two of the largest Black tech ecosystems. AfroTech, which was co-founded by Samuels, and BLCK VC, where Hollins serves as a founding board member. Samuels also co-founded and served as COO at Blavity Inc., the largest global Black media company for millennials and Gen-Z.
Quotes from Aaron Samuels and Brian Hollins
“Storytelling and community building are key tools. They reshape the world into a more just and equitable place,” said Aaron Samuels, Founder and Managing Partner of Collide Capital. “After a decade as a poet and entrepreneur, I now believe that we also need one additional fundamental tool: capital. Collide Capital is a natural extension of the work that both Brian and I have done. It allows us to place dollars behind the next generation of diverse founders.”
“Collide is the culmination of a decade-long journey identifying and supporting the most talented founders we know,” said Brian Hollins, Founder and Managing Partner of Collide Capital. “Aaron and I have spent years bringing recognition and resources to deserving innovators. We feel thrilled to now add capital to that equation to ensure those founders have financial support.”
About Collide Capital
Collide Capital believes that great founders are intersectional in nature and will demand that their investors will be equivalently so. Building off of the success of their top-quartile proof of concept fund, their team is now publicly announcing the close of their oversubscribed fund of $66M to invest in founders. The company is Black-owned and led by two founders under the age of 35, Aaron Samuels who co-founded AfroTech, and Brian Hollins who is a founding Board Member of BLCK VC.
Finding funding and support from big companies is a great success. Would you like to read more about creating connections to build your career and your business? Check out Networking for Career Success by Diane Darling.