Alumni Ventures is now one of the most active VC firms in the US, according to PitchBook data.Insider spoke with its chief investment officer about its distinct strategy of not leading rounds.
The fund became the cornerstone of the venture capital firm Alumni Ventures, which now manages about $1.2 billion in assets across more than 40 funds. It's among the most active VC firms in the United States by deal count, according to PitchBook data, ranking No. 1 in 2022 for seed-stage activity. Edwards, who previously worked in private equity, seeks to continue the firm's strategy of getting into competitive deals by positioning itself as a partner to blue-chip firms such as Andreessen Horowitz and Lightspeed Venture Partners. Unlike many other firms, which seek to lead rounds as they amass enough assets to write larger checks, Alumni Ventures is content to follow on.
Firms often seek to lead rounds in order to set the terms of the deals and to exert greater control over their deal pipeline. But Alumni Ventures' network of limited partners and community members — graduates of elite US universities such as MIT, Stanford, and Yale — grants it a competitive advantage that makes leading rounds less necessary, Edwards told Insider.
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