Specialist venture capital investor Alumni Ventures Group has launched a new fundraise targeting companies working to shape and accelerate the world’s recovery from the COVID-19 crisis.
The Post-COVID Fund will invest in ventures which either directly or indirectly address the multiple impacts of the virus and that demonstrate strong resilience in the face of COVID- and recession-related challenges, the firm said.
Likely target sectors include healthcare, technology, services, data monitoring and analysis, learning, payments, communications and entertainment, among others.
Alumni Ventures Group CEO Michael Collins said, “We believe this pandemic has changed our world forever.
“Trends will accelerate. Whole new markets will emerge. Industries will be reshaped, and new approaches taken as we start to tackle the problems and opportunities inherent in our post-COVID world.
“Out of this crisis, we expect to see dozens of new market leaders created who will be attractive investments in both the near and longer term. We think it’s an excellent time to be a venture investor focused on this new reality.”
The fund is seeking an initial $10m of capital, and will co-invest with establised venture capital firms in deals.
AVG said it hoped to build a portfolio of 20 to 30 companies, with a 10-year timescale for the vehicle.
That fund’s portfolio will include follow-on investments in AVG’s existing portfolio of more than 430 companies, as well as new investments vetted and secured by its 16 alumni funds and team of investment professionals.
AVG has been offering venture capital portfolio to accredited investors since 2014, most of whom had previously been unable to access a professional, diversified venture portfolio.
It offers more than 20 private venture funds, primarily for alumni from leading academic institutions including Harvard, Stanford, Cornell, MIT, Princeton, Yale, and Dartmouth.
The Post-COVID Fund is open to any accredited investor, the firm added.
Collins said, “The Post-COVID Fund is a response to the fact that this virus is affecting everyone.
“We think all communities should come together to support problem solvers.
“Both AVG and our investors want to help play a role in how society moves beyond COVID-19. It’s a chance to do good for the world and do well through your portfolio.”
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