Chicago investment firm founded by the operators behind Tide Cleaners doubles its prior fund size, seeking to invest in founder-owned services and manufacturers.

The 81 Collection today announced an additional close of its second fund at $82 million, double the size of its 2021 debut fund, bringing total AUM to more than $145 million. Fund II seeks to back founder-owned businesses in services, manufacturing, and the physical world: the 81% of the U.S. economy that the firm believes is underserved by most venture capital.

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The 81 Collection team.

The firm was founded five years ago on the thesis that sectors representing 19% of GDP received 55% of venture capital attention. The 81 Collection believes that the other 81% of the economy, the businesses that employ most Americans, compete for what is left.

"We think that most venture capitalists fund companies that might work. We back the ones that already do," said Vijen Patel, founder and general partner of The 81 Collection. "I co-founded Pressbox, now Tide Cleaners, and grew it to 1,000 locations using cash flow. For the 81% of businesses that don’t fit the traditional venture capital model, capital efficiency is an advantage, not a limitation. The best funding comes from your customers, and that also makes businesses last. Until about 40 years ago, that’s how most companies were built. We’ve just forgotten.”

The 81 Collection seeks to invest in companies with $4 to $20 million in annual revenue growing 40% or more a year. The firm also aims to be the first and last institutional check with a total investment of about $8 to $10 million. Fund II has made two investments so far in Uptiv, which operates tech-enabled infusion centers in Michigan, and Terra, an AI-native freight brokerage platform.

"The 81 Collection is an ideal backer to have on our cap table because they share our belief that building an enduring business requires both technological innovation and disciplined cash-flow management. We're grateful for the firsthand operational experience Vijen and the team are able to offer as we embark on the next stage of our growth journey," said the founder and CEO of a Fund I portfolio company.

"What sets The 81 Collection apart is investment from and access to a community of operators who have built and run the kinds of companies the firm backs. That experience matters to founders, and it is just one of many reasons why we were glad to support Fund I and are excited to invest in Fund II,” said Brian Stal, Director of GSD at DNS Capital.

Contact: hello@81collection.com.

About The 81 Collection

The 81 Collection invests minority stakes in founder-owned businesses in services, manufacturing, and the physical world. Vijen Patel, co-founder Alex Kirshenbaum, and former Tide Cleaners COO Jeff Jasurda lead the firm. Advisors include Scott Malpass, former chief investment officer of the University of Notre Dame.

www.81collection.com

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