Key Takeaways
- • Collective Global launched as a new asset management firm focused on venture capital with more than $1 billion in assets under management, according to a Business Wire announcement dated November 14, 2023.
- • The firm is jointly owned by leading asset owners and led by co-CEOs Sheel Tyle and Daniel Adamson, positioning it as a bridge between venture managers and institutional investors.
- • Collective Global combines three strategies: Elevate, a dedicated venture GP stakes platform; Amplo, an early-stage venture business; and Tactica, an opportunistic venture mandate.
- • Founding investors include OCERS ($20.8 billion) and the City of San José Retirement System ($8 billion), with Railpen (around GBP34 billion) also cited as a long-time backer of the co-CEOs.
- • At launch, the firm agreed to acquire a stake in a leading technology and AI-focused venture firm, with details forthcoming, and planned a syndicated co-investment among founding asset owners.
Summary
Collective Global, a new asset management firm, announced its launch on November 14, 2023 with more than $1 billion in assets under management. The firm is designed to reimagine how premier institutions access venture capital. It is jointly owned by leading asset owners and managed by co-Chief Executive Officers Sheel Tyle and Daniel Adamson, and it aims to create strategic partnerships with venture managers and founders that bridge the innovation economy and sophisticated institutional investors.
The firm combines three distinct platforms: Elevate, described as a first-of-its-kind dedicated venture GP stakes strategy; Amplo, an early-stage venture business; and Tactica, an opportunistic venture mandate. Molly Murphy, Chief Investment Officer of the Orange County Employees Retirement System (OCERS) and Chair of the Collective Global Strategic Committee, said OCERS is a founding investor and recently hosted the firm's inaugural summit of eight leading asset owners from six countries, representing more than $1 trillion in combined assets. OCERS is a $20.8 billion public pension plan. Murphy described Collective Global as positioned to be an innovative first mover in venture GP stakes, taking advantage of current market dislocations.
Prabhu Palani, Chief Investment Officer of the City of San José Retirement System and a founding investor and Strategic Committee member, cited the partnership between Tyle, a venture veteran, and Adamson, a GP stakes pioneer, as a key attraction. The City of San José Retirement System manages an $8 billion multi-asset portfolio. James Tselentis, Senior Investment Manager at Railpen, a UK pension investment manager responsible for roughly GBP34 billion, described Collective Global as a win-win for pensions, managers, and venture-backed companies.
In conjunction with the launch, Collective Global has reached a definitive agreement to acquire a stake in a leading venture firm investing in market-defining technology and artificial intelligence companies, with details to be announced. The firm also plans to syndicate an associated co-investment among its founding asset owner partners. The formation of the Collective Global management company is subject to customary legal agreements and is expected to be finalized in the fourth quarter of 2023.
The firm combines three distinct platforms: Elevate, described as a first-of-its-kind dedicated venture GP stakes strategy; Amplo, an early-stage venture business; and Tactica, an opportunistic venture mandate. Molly Murphy, Chief Investment Officer of the Orange County Employees Retirement System (OCERS) and Chair of the Collective Global Strategic Committee, said OCERS is a founding investor and recently hosted the firm's inaugural summit of eight leading asset owners from six countries, representing more than $1 trillion in combined assets. OCERS is a $20.8 billion public pension plan. Murphy described Collective Global as positioned to be an innovative first mover in venture GP stakes, taking advantage of current market dislocations.
Prabhu Palani, Chief Investment Officer of the City of San José Retirement System and a founding investor and Strategic Committee member, cited the partnership between Tyle, a venture veteran, and Adamson, a GP stakes pioneer, as a key attraction. The City of San José Retirement System manages an $8 billion multi-asset portfolio. James Tselentis, Senior Investment Manager at Railpen, a UK pension investment manager responsible for roughly GBP34 billion, described Collective Global as a win-win for pensions, managers, and venture-backed companies.
In conjunction with the launch, Collective Global has reached a definitive agreement to acquire a stake in a leading venture firm investing in market-defining technology and artificial intelligence companies, with details to be announced. The firm also plans to syndicate an associated co-investment among its founding asset owner partners. The formation of the Collective Global management company is subject to customary legal agreements and is expected to be finalized in the fourth quarter of 2023.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.