Collide Capital Announces Close of $66M Fund I, the First VC Fund Simultaneously Backed by Amazon, Alphabet, and Twitter

Collide's Founding Partners, Aaron Samuels and Brian Hollins, have helped build and scale two of the largest Black entrepreneurship ecosystems in the world, AfroTech and BLCK VC.

BROOKLYN, N.Y., Oct. 27, 2022 /PRNewswire/ -- Collide Capital, one of the largest Black-owned first time funds, is supporting intersectional founders solving the next generation of global challenges. Today, Collide Capital announced the close of its $66M Fund I. To date, Collide has backed over 40 companies, of which more than 80% are led by Black, Latinx, or Female Founders.

Collide is the first venture fund to be simultaneously backed by Amazon, Alphabet, and Twitter, and is also anchored by 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.

"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 that connects us to the founders who are working to solve the next generation of global challenges, and we are excited to bring the resources of Alphabet to their diverse portfolio of founders. This Fund I is just the beginning for Collide Capital, and we're excited to see what the future holds for them."

Collide Capital's mission is to direct investment from leading technology and financial institutions 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.

"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. "As 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 for a more diverse and inclusive tech industry."

"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, and we hope that students in the University of California system and beyond are inspired by this work. It's truly remarkable."

Collide Capital will usher in a new era of venture capital where resources and opportunities are directed toward the most deserving founders by backing a high-performing portfolio led by a diverse array of founding teams who have the lived experiences, courage, and grit to create solutions for the next generation. Samuels and Hollins believe great investors are strongly rooted 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, 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.

"We believe that storytelling and community building are necessary tools to reshape the world into a more just and equitable place," said Aaron Samuels, Founder and Managing Partner of Collide Capital. "But 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 been deeply engaged in, and 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, and we're thrilled to now add capital to that equation to ensure those founders have the financial support they need to win."

To learn more about Collide, visit https://collidecap.com.

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, the Collide Capital team is now publicly announcing the close of their oversubscribed fund of $66M to invest in founders with the lived experiences, courage, and grit to create solutions for the next generation. Collide Capital 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.

Collide Capital is led by two Black GPs with institutional training from Goldman Sachs, Bain & Co, Harvard Business School, and Stanford Graduate School of Business. Collide Capital is anchored by the University of California Endowment, and the first fund to be simultaneously backed by Amazon, Alphabet, and Twitter. To date, Collide Capital has backed over 40 companies, of which 80%+ are led by Black, Latinx, or Female Founders.

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Media Contact: 
BAM for Collide Capital
[email protected]

SOURCE Collide Capital

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