How to Raise A Venture Fund | Manuel Grossman (Amino Collective)
May 16, 2023
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Manuel Grossman, Founding Partner at Amino Collective, shares insights on raising a unique solo GP venture fund in the edge of health and biology. The podcast covers the evolution of tech bio in Europe, fundraising strategies, community support, and the journey from a small fund to a larger one. Manuel discusses the importance of networking, team building, and differentiation in the competitive venture capital landscape.
Amino Collective operates as a solo GP structure in Europe, focusing on early-stage health and bio investments.
Manuel Grossman successfully raised a fund based on community support and navigating challenges in specialized health and bio sectors.
Deep dives
Building a Firm in the Health and Bio Space
Investors believe that founders deserve better in health and bio, leading them to create a firm that focuses on creating attractive returns in early-stage health and bio ventures. Amino Collective, led by Manuel Grossman, operates as a sole GP structure, a novelty in Europe. The fund primarily invests in Europe, occasionally in the US, and concentrates on health and biology startups.
Evolution of Tech Bio and Health Tech in Europe
Manuel discusses the evolution of tech bio and health tech in Europe over the last decade. He entered the ecosystem before the post-COVID boom and reflects on the changes in the industry. Amino Collective's unique approach amid this evolution led to successful fundraising without prior GP experience.
Challenges and Strategies in Fundraising
Manuel navigated challenges in fundraising, focusing on qualifying LPs interested in the niche, specialized areas of health and bio. Amino Collective's differentiated investment strategy and community-based approach set them apart. The team actively builds networks, co-invests strategically, and emphasizes collaborative support for pre-seed and seed startups.
Transitioning to a Second Fund and Building a Team
Transitioning to a second fund involves maintaining core principles while adapting to scale. Amino Collective increased fund size to enhance support for portfolio companies, balancing concentrated investments for optimal outcomes. The addition of a team to cover healthcare and biology sectors ensures effective collaboration and focused investments to empower founders.
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Description: On the seventh episode of our “How to Raise a Venture Fund” series, we're joined by Manuel Grossman, Founding Partner at Amino Collective, an early-stage micro fund investing at the edge of health and biology. Prior to Amino Manuel was an operator at tech bio company KRY and was a seed invetor at Allcyte acquired by Exscientia.
Amino Collective started in 2020, has over 22 investments and one exit. Their first fund was 10m EUR and have recently closed a second fund at 30m EUR with ambition of getting to 40m EUR. Amino Collective is a solo GP structure, something that is quite novel, especially in Europe. The fund mainly invests in Europe, but when advantageous also invests in select US companies.
In this episode we cover the evolution of tech bio and health tech in Europe and what has changed in the last 10 years since Manuel entered the ecosystem (i.e. before it became cool post covid), how he raised a fund without having ever been a GP and the community of emerging managers that helped him.
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