Operator Collective

Operator Collective is a venture fund and dream team community of Operator LPs.

ActiveVenture Capital

Website LinkedIn X

Updated: Feb 17, 2026 ·

Financial History

Total Raised

N/A

Valuation

N/A

Investments Made

Date	Company	Round	Lead Investor(s)	Co-Investor(s)
Feb 12, 2026	Santé	$7.6M Seed	Bonfire Ventures, Operator Collective, TipTop VC, Veridical Ventures	Ian Crosby, Luke Sophinos, Y Combinator
Feb 5, 2026	Sapiom	$15.8M Seed	Accel	Anthropic, Array Ventures, Coinbase Ventures, Formus Capital, Gradient, Menlo Ventures, Okta Ventures, Plug and Play, Umami Capital
Jan 30, 2026	Poetiq	$45.8M Seed	FYRFLY Venture Partners, Surface Ventures	468 Capital, Hico Ventures, Neuron Venture Partners, Y Combinator
Oct 1, 2025	Anrok	$55.0M Series C	—	Chemistry VC, Khosla Ventures, Sequoia Capital, Spark Capital
Sep 1, 2025	nexos.ai	$35.0M Series A	—	AirAngels, Andreessen Horowitz, Cornerstone Venture Partners, Felicis Ventures, Hanaco Ventures, Predictive VC, Sequoia Capital, Theory Ventures, XYZ Venture Capital, Y Combinator, Allison Pickens (Allison Pickens Ventures), Scott Belsky
Sep 1, 2025	Fleetline	$500K Seed	—	Alumni Ventures, Shine Capital, Y Combinator, Jawed Karim, Paul Graham, Rich Miner, Sam Altman, Scott Belsky, Tim Griffin
Sep 1, 2025	Time Atlas Labs	$2.0M Seed	—	Jett Fein, K9 Ventures, Pioneer Fund, Cristina Cordova
Aug 1, 2025	Agenda Hero	$6.0M Seed	—	Jett Fein, K9 Ventures, Pioneer Fund, Cristina Cordova, Tuomas Artman
Jul 1, 2025	Sundial	$23.0M Series A	—	Accel, Alt Capital, Bee Partners, Blue Bear Capital, Browder Capital, Contrary Capital, Jenny Fielding, Scott Hartley, Founders Fund, Freestyle Capital, FTX Ventures, Lightspeed Venture Partners, Meritech Capital Partners, Mischief Venture Capital, Next Play Ventures, Redpoint Ventures, Saga, Sequoia Capital, South Park Commons, Summit Partners, Sutter Hill Ventures, TCV, The Hit Forge, UP.Partners, Vela Partners, Webb Investment Network, Amjad Masad, Arash Ferdowsi, Balaji Srinivasan, Bradley Horowitz, Christina Cacioppo, Deborah Liu, Dharmesh Shah, DJ Patil, Don Dodge, Drew Houston, Dylan Field, Elad Gil, Fidji Simo, Howie Liu, Immad Akhund, Jason Lemkin, Jonathan Neman, Jonathan Wasserstrum, Joshua Reeves, Julian Shapiro, Justin Mateen, Koen Bok, Kyle Vogt, Marc Benioff, Max Mullen, Parker Conrad, Sahin Boydas, Sam Altman, Scott Belsky, Scot Wingo, Sean Rad, Shishir Mehrotra, Siqi Chen, Tobias Lutke
Jul 1, 2025	OnParty	$1.0M Seed	—	Index Ventures, NewFund, Stash Ventures, Akshay Kothari, Alexandre Prot, Charles Gorintin, Claire Hughes Johnson, Gloria Baeuerlein, Guillaume Princen, Hanno Renner, Job Van Der Voort, Saturnin Pugnet
Jul 1, 2025	Julius AI	$10.0M Seed	—	Accel, Andreessen Horowitz, Axiom Partners, Bee Partners, Blue Bear Capital, C2 Investment, Contrary Capital, CRV, Index Ventures, Lightspeed Venture Partners, Lowercarbon Capital, Next Play Ventures, Sequoia Capital, South Park Commons, Stash Ventures, Sutter Hill Ventures, SV Angel, UP.Partners, Webb Investment Network, Y Combinator, Akshay Kothari, Alexandre Prot, Amjad Masad, Arash Ferdowsi, Balaji Srinivasan, Bradley Horowitz, Claire Hughes Johnson, Deborah Liu, DJ Patil, Don Dodge, Drew Houston, Dylan Field, Elad Gil, Eoghan McCabe, Fidji Simo, Gloria Baeuerlein, Gokul Rajaram, Guillaume Princen, Guillermo Rauch, Hanno Renner, Howie Liu, Jean Charles Samuelian, Job Van Der Voort, Jonathan Wasserstrum, Kevin Lin, Koen Bok, Kyle Vogt, Marc Benioff, Mike Volpe, Pawan Deshpande, Sahin Boydas, Sam Altman, Sam Palmisano, Shishir Mehrotra, Tobias Lutke, Tom Blomfield
Jul 1, 2025	Lovable	$200.0M Series A	—	Accel, byFounders, Creandum, CRV, Flex Capital, Heavybit, Hummingbird Ventures, La Famiglia, Pareto Holdings, RTP Global, TenOneTen Ventures, Uncork Capital, Adam D'Angelo, Ben Tossell, Charlie Songhurst, Chris McKillop, Christian Reber, Dharmesh Shah, Fredrik Hjelm, George Kurtz, Job Van Der Voort, Melissa Tan, Robert Muñoz, Stefan Lindeberg, Stewart Butterfield
Jul 1, 2025	Polymarket	$150.0M Series C	—	10100, 1confirmation, Abstract Ventures, Kevin Hartz, Brainchild, Darling Ventures, Divergence Ventures, ENIAC Ventures, EQT Ventures, Felicis Ventures, Founders Fund, General Catalyst, iNovia Capital, New Form Capital, Polychain Capital, Robot Ventures, Sound Ventures, The Hit Forge, Thrive Capital, Tiger Global Management, Triatomic Capital, Balaji Srinivasan, Diego Berdakin, Dylan Field, Mark Pincus, Sahin Boydas, Stani Kulechov, Vitalik Buterin
Jun 1, 2025	Decagon	$130.0M Series C	—	8VC, Gautam Gupta, Kevin Hartz, A* Capital (A Star Capital), Accel, Afore Capital, Aglae Ventures, AirAngels, Airtree Ventures, Alt Capital, Andreessen Horowitz, Avenir, Avid Ventures, Bain Capital Ventures, Bessemer Venture Partners, Blackbird Ventures Australia, Bond, Cornerstone Venture Partners, Cyberstarts VC, DTCP, Endeavor Health Ventures, ENIAC Ventures, Felicis Ventures, Flex Capital, Forerunner Ventures, Greenoaks Capital, Index Ventures, Insight Partners, Kairos HQ, Kipaki Ventures, Lightspeed Venture Partners, Nasdaq Ventures, Andrew Schoen, Hans Tung, Predictive VC, Primary Venture Partners, Redpoint Ventures, Ribbit Capital, Salesforce Ventures, Sequoia Capital, SoftBank Investment Advisers, Sound Ventures, Theory Ventures, XYZ Venture Capital, Y Combinator, Aaron Levie, Allison Pickens (Allison Pickens Ventures), Bernard Arnault, Frederic Kerrest, Greg Kidd, Howard Schultz, Howie Liu, Matt Macinnis, Mike Vernal, Philippe Teixeira da Mota, Scott Belsky
Jun 1, 2025	Tebi	$34.0M Series B	—	CapitalG, Forerunner Ventures, Greylock, Index Ventures, Stash Ventures, Akshay Kothari, Alexandre Prot, Claire Hughes Johnson, Gloria Baeuerlein, Guillaume Princen, Hanno Renner, Jean Charles Samuelian, Job Van Der Voort
May 1, 2025	Duna	$12.0M Seed	—	10100, AI4ALL, Axiom Partners, Conviction Partners, Draper Associates, E1 Ventures, First Round Capital, FORWARD.one, Gradient Ventures, Graduate Entrepreneur, Index Ventures, Madrona Ventures, Jonathan Golden, Next47, Kazuma Ieiri, OpenCapital.vc, Radical Ventures, Runa Capital, Stash Ventures, Summit Partners, Y Combinator, Akshay Kothari, Alexandre Prot, Amjad Masad, Bastian Nominacher, Claire Hughes Johnson, Dharmesh Shah, Gloria Baeuerlein, Guillaume Princen, Hanno Renner, Jared Leto, Jean Charles Samuelian, Job Van Der Voort, Mathilde Collin, Michael Wax, Oliver Cameron, Sergei Anikin, Steve Anavi
May 1, 2025	Theo Ai	$4.0M Seed	—	186 Ventures, Accomplice VC, Arrive, Baseline Ventures, Beat Ventures, Boston Seed Capital, Collide Capital, Founder Collective, Impellent Ventures, NextGen Venture Partners, NextView Ventures, Predictive VC, The Hit Forge, Village Global, VitalStage Ventures, Y Combinator, Akash Garg, David Chang, Jeff Seibert, Jennifer Lum, Sahin Boydas, Scott Belsky, Wayne Chang
May 1, 2025	Glide	$15.0M Series A	—	Acrew Capital, Act One Ventures, Alumni Ventures, American Express Ventures, Bain Capital Ventures, Adeyemi Ajao, Rexhep Dollaku, Benchstrength, Coelius Capital, Company Capital, Craft Ventures, Emergence Capital, ENIAC Ventures, f7 Ventures, Homebrew, Index Ventures, Inspired Capital, Latitud, Pear VC, Play Ventures, Precursor Ventures, PS Investments, Saga, Sequoia Capital, Stash Ventures, The General Partnership, Vamos Ventures, Visible Ventures, Y Combinator, Akshay Kothari, Alexandre Prot, Arash Ferdowsi, Claire Hughes Johnson, Emanuel Pleitez, Gloria Baeuerlein, Guillaume Princen, Hanno Renner, Jean Charles Samuelian, Job Van Der Voort, Maxime Paradis
May 1, 2025	Rillet	$25.0M Series A	—	Kevin Hartz, Andreessen Horowitz, Congruent Ventures, Creandum, DGF Investimentos, FasterCapital, First Round Capital, General Catalyst, Goat Capital, ICONIQ Capital, Latitud, Lead Edge Capital, LGF, Mischief Venture Capital, monashees, Next47, Sapphire Ventures, Sequoia Capital, Soma Capital, Susa Ventures, XYZ Venture Capital, Y Combinator, Bill Gates, Cristina Cordova, Gordon Wintrob, Hanno Renner, Immad Akhund, Max Mullen, Mike Vernal, Parker Treacy, Peter Reinhardt, Roland Grenke, Scott Belsky, Zack Kanter
May 1, 2025	CedarDB	$6.0M Seed	—	Index Ventures, Stash Ventures, Akshay Kothari, Alexandre Prot, Claire Hughes Johnson, Gloria Baeuerlein, Guillaume Princen, Jean Charles Samuelian, Job Van Der Voort
May 1, 2025	Coworker.ai	$13.0M Seed	—	Abstract Ventures, Darling Ventures, ENIAC Ventures, Peterson Ventures, Tenzing Capital, Triatomic Capital, Vitalize Venture Group, Y Combinator, Francis Santora
May 1, 2025	Unblocked	$20.0M Series A	—	Gautam Gupta, Kevin Hartz, Accel, AI4ALL, Alkeon Capital, Alt Capital, Alumni Ventures, AME Cloud Ventures, Andreessen Horowitz, Axiom Partners, Bain Capital Ventures, Blockchange Ventures, Bond, Conviction Partners, Decibel Partners, DFJ, DTCP, Electric Capital, Expa, Forerunner Ventures, G2VP, General Catalyst, Greylock, Hanabi Capital, Hardware Club, Heretic Ventures, Innovation Endeavors, iNovia Capital, Intel Capital, InterWest, Madrona Ventures, Kazuma Ieiri, Picus Capital, Radical Ventures, Ribbit Capital, Sequoia Capital, Sherpalo Ventures, Tribe Capital, Valar Ventures, Y Combinator, Aaron Levie, Akshay Kothari, Amjad Masad, Don MacAskill, Eric Futoran, Frederic Kerrest, Howie Liu, Matt Macinnis, Mike Abbott, Mike Vernal, Neha Narkhede, Nitay Joffe, Oliver Cameron, Quinn Slack, Ron Pragides, Stewart Butterfield, Tobias Lutke, Yan-David Erlich
Apr 1, 2025	Rescale	$120.0M Series D	—	8VC, Alumni Ventures, DST Global, Eclipse Ventures, First Round Capital, Founders Fund, Han Hua, Hitachi Ventures, K2 Global, Khosla Ventures, LGF, Prelude Ventures, Quiet Capital, Saga, Scribble Ventures, Shine Capital, Y Combinator, Akshay Kothari, Anthony Pompliano, Dylan Field, Emil Michael, Eric Wu, Jason Citron, Jawed Karim, Rich Miner, Ron Pragides, Sam Altman, Scott Belsky, Steve Lee, Tim Griffin
Apr 1, 2025	Grouphug	$2.0M Seed	—	byFounders, Creandum, Hummingbird Ventures, La Famiglia, RTP Global, Adam D'Angelo, Christian Reber, Dharmesh Shah, Fredrik Hjelm, George Kurtz, Job Van Der Voort, Melissa Tan, Stefan Lindeberg, Stewart Butterfield
Apr 1, 2025	Omnidian	$87.0M Series C	—	Alumni Ventures, Amadeus Capital Partners, Element Partners, Karim Faris, In-Q-Tel, Schematic Ventures, Shine Capital, Y Combinator, Jawed Karim, Paul Graham, Rich Miner, Sam Altman, Scott Belsky, Thomas Tull, Tim Griffin

Financial History

Total Raised

N/A

Valuation

N/A

Leadership Team

Key people at Operator Collective.

Kristin Kaiser Mulligan

Kristy Friedrichs (McBride)

Erica Ruliffson Schultz

Karen Peacock Peacock

Partner

Amy Lao

Partner

Lynn Stepovich Carter

Partner

Christina Crawford Kosmowski

Partner

Colleen (Wheeler) McCreary

Danielle Mastrangel Brown

Jeanne DeWitt Grosser

Leadership Team

Key people at Operator Collective.

Kristin Kaiser Mulligan

Kristy Friedrichs (McBride)

Erica Ruliffson Schultz

Karen Peacock Peacock

Partner

Amy Lao

Partner

Lynn Stepovich Carter

Partner

Christina Crawford Kosmowski

Partner

Colleen (Wheeler) McCreary

Danielle Mastrangel Brown

Jeanne DeWitt Grosser

Deep Dive

# Operator Collective: The Dream Team of Operator LPs

High-Level Overview

Operator Collective is an early-stage B2B venture firm with a mission to democratize access to venture capital and operational expertise by building a community of exceptional enterprise operators as Limited Partners (LPs). Their investment philosophy centers on the belief that the best outcomes come from teams—not just capital—so they actively engage their operator LPs in sourcing, diligence, and post-investment support. They focus on enterprise tech sectors such as SaaS, AI, data analytics, fintech, and business services, investing primarily at the seed and Series A stages. Their impact on the startup ecosystem is profound: by diversifying who has access to capital and influence, Operator Collective is reshaping the venture landscape to be more inclusive, effective, and founder-friendly.

Origin Story

Founded in 2019 by Mallun Yen, Operator Collective emerged from a recognition that traditional venture capital was too insular, with power concentrated among a homogenous group of investors. Yen, drawing from her own experience as an operator and investor, set out to create a fund where the people who had built and scaled major tech companies—operators—were not just passive investors but active participants. The firm’s evolution has been marked by a deliberate focus on diversity and inclusion, with over 200 operator LPs, many of whom are women and people of color, and a portfolio that reflects this diversity. The launch of Fund II further solidified their commitment to expanding access and influence beyond the traditional VC elite.

Core Differentiators

Unique Investment Model: The Collective Venture Model™ integrates operator LPs directly into the investment process, making them active contributors rather than silent backers.
Network Strength: With over 200 operator LPs from companies like Atlassian, Figma, Okta, and AWS, Operator Collective offers unparalleled access to enterprise decision-makers, customers, and talent.
Track Record: Their portfolio includes high-growth companies like Ironclad, Guild Education, Faros AI, and Hex Technologies, with a notable emphasis on diversity—43% of their portfolio companies have a female founder, and 64% have a person of color founder.
Operating Support: Beyond capital, Operator Collective provides hands-on operational support, strategic introductions, and mentorship, leveraging the collective expertise of their LPs to accelerate portfolio company growth.

Role in the Broader Tech Landscape

Operator Collective is riding the trend of operator-led investing, which is gaining momentum as founders seek more than just capital—they want access to networks, expertise, and real-world operational guidance. The timing is critical, as the tech industry grapples with issues of diversity, inclusion, and the need for more sustainable, founder-centric models of growth. By aligning incentives and expanding access to wealth creation, Operator Collective is influencing the broader ecosystem to become more equitable and effective. Their approach is particularly resonant in an era where the value of networks and community is increasingly recognized as a key driver of startup success.

Quick Take & Future Outlook

Operator Collective is poised to continue leading the charge in operator-led venture capital, with a growing community of LPs and a portfolio that reflects the future of tech. As the demand for diverse, founder-friendly investors grows, their model is likely to inspire more funds to adopt similar approaches. The trends shaping their journey—increased focus on diversity, the rise of operator-led investing, and the importance of network effects—will only amplify their influence. Operator Collective is not just a venture fund; it’s a movement to rebuild the ecosystem from the ground up, ensuring that the next generation of founders has the support and access they need to succeed.

Sources

# Operator Collective: The Dream Team of Operator LPs

High-Level Overview

Origin Story

Core Differentiators

Unique Investment Model: The Collective Venture Model™ integrates operator LPs directly into the investment process, making them active contributors rather than silent backers.
Network Strength: With over 200 operator LPs from companies like Atlassian, Figma, Okta, and AWS, Operator Collective offers unparalleled access to enterprise decision-makers, customers, and talent.
Track Record: Their portfolio includes high-growth companies like Ironclad, Guild Education, Faros AI, and Hex Technologies, with a notable emphasis on diversity—43% of their portfolio companies have a female founder, and 64% have a person of color founder.
Operating Support: Beyond capital, Operator Collective provides hands-on operational support, strategic introductions, and mentorship, leveraging the collective expertise of their LPs to accelerate portfolio company growth.