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Welcome back to the Collective. As the venture capital industry grapples with what some are calling the "VC apocalypse," innovative alternative models are emerging that could reshape how we think about startup funding. 

The traditional VC playbook (raising large funds from institutional LPs, pursuing unicorn valuations, and seeking exits through IPOs or M&A) is showing signs of severe strain. In its place, new approaches focused on regional ecosystems, educational institutions, and public-private partnerships are gaining traction, offering hope for a more sustainable and distributed future for startup funding.

So, this week’s newsletter examines the rise of what we would like to call “alternative VC” (or “altVC” if the posters on X were to get ahold of this trend).

It is inspired by our interviews with Siddhartha Bose of Center City Ventures, an early stage VC fund operated by the Wharton MBA Class of 2026, and Dr. Elad Granot, Chair of the New Ventures Committee at OhioX and Advisor at Interstate Fusion Ventures, which both seek to level the playing field for technologists in Ohio by bringing venture capital investment to the region. 

Both interviews are live to watch on our YouTube channel, which also includes our live podcast recording with Siya Raj Purohit, Education Lead at OpenAI!

Ok, now it’s time to examine the rise of alternative venture capital.

— By Antonio DiMeglio and Leon Li

The Traditional Model Under Pressure