SAN FRANCISCO (Diya TV) — Collective Global, a new asset management firm co-owned by major California pensions and helmed by co-CEOs Sheel Tyle and Daniel Adamson, announced they have over $1 billion in assets under management (AUM) in their effort to reshape how top institutions engage with venture capital.
The California-based firm says they will link the innovation economy and institutional investors, creating partnerships with venture managers and founders. Their model combines a dedicated venture GP stakes platform called “Elevate,” an early-stage venture strategy known as “Amplo,” and an opportunistic venture mandate named “Tactica.”
Founding investors, including Orange County Employees Retirement System (OCERS) and the City of San José’s Retirement System, are committing a minimum of $100 million each. Molly Murphy, CIO of OCERS and Chair of the Collective Global Strategic Committee, said “Collective Global is poised to be an innovative first mover in venture GP stakes, taking advantage of current market dislocations to introduce a more collaborative model.”
The firm’s launch follows a recent summit hosted by OCERS, bringing together leading asset owners representing over $1 trillion in combined assets. Their collaboration aims to rethink how venture capital can benefit their constituents.
In a challenging venture capital environment, Collective Global Co-CEO Daniel Adamson notes “distress and dislocation in venture markets has opened VC managers’ minds to newer and better ways to partner with their investors.”
Collective Global’s unique concept originated from a 2021 conversation between Daniel Adamson and Molly Murphy. Murphy, a seasoned venture investor, recognized the limited access pensions had to venture capital. Inspired by Adamson’s model, they envisioned a firm that connects pensions to venture investments, allowing investors to participate in fundraising rounds and take stakes in firms.