Collide Capital raises $95M fund to back fintech, future-of-work startups

Collide Capital, established by Brian Hollins and Aaron Samuels, has successfully closed a substantial $95 million for its second fund, announced on Thursday. Founded in 2021, the venture firm focuses on early-stage investments in sectors such as fintech, supply chain innovations, and the evolving future of work. With this new funding, Collide Capital has now invested in a total of 75 companies, following the completion of its inaugural $66 million Fund I in 2022. Hollins shared that the fundraising journey for this latest fund spanned approximately 13 months, with plans to strategically deploy the capital over the next three and a half years. Despite a challenging environment for emerging fund managers, the Collide Capital team boasts a robust background in the industry. Hollins has a decade of experience at top firms like Goldman Sachs and Lightspeed, while Samuels co-founded AfroTech and held positions at Bain and Lightspeed. The limited partners backing Fund II include notable entities such as the University of California Endowment, Accolade Partners, Fairview Capital, Goldman Sachs, and JPMorgan. With an average investment size ranging from $1 million to $3 million, Collide Capital aims to support at least 30 companies and has already made initial investments in five. Hollins emphasized the firm's interest in platforms that promote automation, enhance real-time collaboration, and facilitate quicker, data-driven decision-making. In addition to their investment strategy, the founders expressed enthusiasm for expanding the Collide Campus program, initiated in 2022, which is dedicated to mentoring emerging entrepreneurs and future venture capitalists. This initiative includes an undergraduate program that educates students about venture capital and entrepreneurship, alongside a graduate fellowship that allows students to work closely with the Collide team as investors. Currently, the undergraduate program is active on over 20 campuses, including Harvard and Johns Hopkins, having already supported more than 50 students who have gone on to secure positions at prestigious firms like General Catalyst and Collide itself. Samuels explained that the program was inspired by their own experiences as students, aiming to connect ambitious individuals with venture capital opportunities. "We’re linking the most talented and driven individuals with the resources they need to create impactful businesses," he stated.