Operator Collective’s inaugural vehicle secured 100 LPs including two universities to back business-to-business enterprises aligned with its diversity ethos.
US-based venture capital firm Operator Collective has raised $45m from more than 100 limited partners including University of Minnesota and Michigan State University, Crunchbase News has reported.
The figure was raised for Operator Collective’s inaugural venture fund, which has exceeded its original $30m target.
Other LPs include Bloomberg Beta, the venture capital affiliate of media group Bloomberg, as well as assorted private investors and funds including Kapor Capital, Perkins Fund, Gingerbread Capital and WK Kellogg Foundation.
Operator Collective will target business-to-business enterprises across a variety of sectors. Although stage-agnostic, the fund will seek products with demonstrable market fit and sources of potential revenue.
It hopes to encourage founders who share its diversity ethos without solely focusing on underrepresented groups, having secured an investor’s consortium comprised of 90% women and 40% people of colour.
Operator Collective’s current portfolio includes education-centred employee benefit scheme provider Guild Education, digital…
