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Operator Collective

North America, California, United States, San Francisco

Description

Operator Collective is a San Francisco-based venture fund distinguished by its unique model, which integrates a robust community of experienced operators directly into its investment strategy. Founded by Kara Nortman and Kaitlin Christine, the firm leverages the collective expertise of over 300 diverse operators, who also serve as limited partners (LPs) in the fund. This community, notably comprising 80% women and 40% people of color, provides invaluable strategic guidance, due diligence support, and network access to portfolio companies, offering a significant competitive advantage.

Operator Collective primarily targets early-stage companies, typically from seed to Series A, with a strong emphasis on B2B software, fintech, and select consumer technology sectors. The firm's investment capacity has grown significantly since its inception. Their first fund closed at $50 million in 2019, followed by a $100 million Fund II in 2021, demonstrating a rapid increase in capital deployment capabilities.

With the closing of their $150 million Fund III in 2023, Operator Collective now manages a total of $300 million in assets under management. This increased capital allows them to write larger initial checks and participate more substantially in follow-on rounds. Their unique value proposition lies not just in providing capital, but in the unparalleled operational support and strategic insights derived from their extensive network of seasoned professionals, aiming to accelerate the growth and success of their portfolio companies.

Investor Profile

Operator Collective has backed more than 55 startups, with 3 new investments in the last 12 months alone. The firm has led 4 rounds, about 7% of its total and boasts 3 exits across its portfolio.

Investment Focus Highlights

  • Concentrates on Series A, Seed, Series B rounds (top funding stages).
  • Majority of deals are located in United States.
  • Strong thematic focus on Software, SaaS, Artificial Intelligence (AI).
  • Typical check size: $1M – $5M.

Stage Focus

  • Series A (38%)
  • Seed (36%)
  • Series B (13%)
  • Pre Seed (5%)
  • Series Unknown (4%)
  • Series C (2%)
  • Series F (2%)

Country Focus

  • United States (96%)

Industry Focus

  • Software
  • Saas
  • Artificial Intelligence (Ai)
  • Enterprise Software
  • Machine Learning
  • Sales Automation
  • Business Intelligence
  • Information Technology
  • Health Care
  • Medical
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FAQ

Frequently Asked Questions

Learn who this investor regularly partners with—both firms and angels—and explore their latest activity.

Who does Operator Collective frequently co-invest with?

Bonfire Ventures
North America, California, United States, Santa Monica
Co-Investments: 7
Basis Set Ventures
North America, California, United States, Menlo Park
Co-Investments: 4
Icon Ventures
North America, California, United States, Palo Alto
Co-Investments: 3
Homebrew
North America, California, United States, San Francisco
Co-Investments: 5
Felicis
North America, California, United States, Menlo Park
Co-Investments: 8
SemperVirens Venture Capital
North America, California, United States, San Mateo
Co-Investments: 3
Craft Ventures
North America, California, United States, San Francisco
Co-Investments: 5
Salesforce Ventures
North America, California, United States, San Francisco
Co-Investments: 3
GTMfund
North America, Texas, United States, Austin
Co-Investments: 4
Alumni Ventures
North America, New Hampshire, United States, Manchester
Co-Investments: 7

Which angels does Operator Collective often collaborate with?

BL
North America, Florida, United States, Miami
Shared Deals: 3
KA
North America, New York, United States, New York
Shared Deals: 4
AD
North America, California, United States, San Francisco
Shared Deals: 3
AR
North America, California, United States, Mountain View
Shared Deals: 3
SB
North America, New York, United States, New York
Shared Deals: 4
BS
North America, California, United States, San Francisco
Shared Deals: 3
CK
North America, Massachusetts, United States, Boston
Shared Deals: 3
David Brown
North America, New York, United States, Rochester
Shared Deals: 3
AG
Asia, Delhi, India
Shared Deals: 3
AA
North America, Vermont, United States, Burlington
Shared Deals: 3

What are some of recent deals done by Operator Collective?

Ramp

New York, New York, United States

Ramp is a financial operations platform designed to save companies time and money

FinanceFinancial ServicesFinTech
Series EJul 30, 2025
Amount Raised: $500,000,000
Quanta

San Francisco, California, United States

Quanta provides software companies with real-time financial clarity and empowerment.

Business DevelopmentFinancial ServicesReal Time
SeedFeb 27, 2025
Amount Raised: $4,700,000
Distributional

Berkeley, California, United States

Distributional makes AI safe, reliable and secure.

A/B TestingArtificial Intelligence (AI)Information TechnologyProductivity Tools
Series AOct 8, 2024
Amount Raised: $19,000,000
SurePath AI

Denver, Colorado, United States

SurePath AI is a SaaS platform that enables governance and management of any GenAI solutions.

Artificial Intelligence (AI)Cyber SecurityProductivity ToolsSaaS
SeedAug 23, 2024
Amount Raised: $5,200,000
Midi Health

Menlo Park, California, United States

Midi Health is a virtual care clinic for women that treats depression, gynecological cancer, and period problems.

Health CareMedicalTherapeuticsWomen's
Series BApr 24, 2024
Amount Raised: $60,000,000
The New Club

San Francisco, California, United States

The New Club empowers and elevates women in engineering and connect them with the community and careers to excel.

Information ServicesProfessional ServicesWomen's
SeedMar 13, 2024
Amount Raised: $3,100,000
Propense.ai

Miami, Florida, United States

Propense.ai is a SaaS platform that identifies new revenue streams for businesses, augmented with AI technology.

Artificial Intelligence (AI)Predictive AnalyticsSaaSSoftware
SeedMar 6, 2024
Amount Raised: $3,000,000
TollBit

New York, New York, United States

TollBit is a content monetization platform that allows AI bots and data scrapers to pay for content instead of scraping data from websites.

Artificial Intelligence (AI)Content
SeedMar 5, 2024
Amount Raised: $7,000,000
Midi Health

Menlo Park, California, United States

Midi Health is a virtual care clinic for women that treats depression, gynecological cancer, and period problems.

Health CareMedicalTherapeuticsWomen's
Series ASep 27, 2023
Amount Raised: $25,000,000
Series

San Francisco, California, United States

Series provides full-stack enterprise financial services designed for institutions & enterprises.

BankingFinanceFinancial Services
SeedSep 26, 2023