Key Takeaways
- • The 81 Collection, a Chicago-based venture capital firm and backer of Colossal Biosciences Inc., has raised $82 million for its second fund, according to Bloomberg.
- • General partner Vijen Patel says the new fund's strategy is "exactly the same" as the first fund, targeting industries including manufacturing, real estate, retail and construction.
- • The close is a follow-on fundraise for a venture manager whose portfolio includes a high-profile biotechnology company, Colossal Biosciences.
Summary
The 81 Collection, a Chicago-based venture capital firm, has closed a new $82 million fund, its second, according to a Bloomberg report published November 11, 2026. The firm is an investor in Colossal Biosciences Inc., the biotechnology company.
General partner Vijen Patel said the new fund will follow the same strategy as the firm's first fund, which focuses on boosting industries such as manufacturing, real estate, retail and construction. Patel described the approach as "exactly the same" as the earlier vehicle, indicating continuity in sector focus across the two funds.
The source material does not disclose the fund's investor base, target size relative to the first fund, or detailed portfolio holdings beyond the Colossal Biosciences relationship. For allocators tracking emerging venture managers, the announcement signals a successful second-vehicle fundraise for a Chicago-based firm with an established biotechnology position and a sector thesis centered on traditional industries.
General partner Vijen Patel said the new fund will follow the same strategy as the firm's first fund, which focuses on boosting industries such as manufacturing, real estate, retail and construction. Patel described the approach as "exactly the same" as the earlier vehicle, indicating continuity in sector focus across the two funds.
The source material does not disclose the fund's investor base, target size relative to the first fund, or detailed portfolio holdings beyond the Colossal Biosciences relationship. For allocators tracking emerging venture managers, the announcement signals a successful second-vehicle fundraise for a Chicago-based firm with an established biotechnology position and a sector thesis centered on traditional industries.
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