Atland Ventures, a venture capital firm fully owned and managed by University of Minnesota undergraduate students, has raised over $1 million for its second fund, expanding its legacy of being the first student-owned venture capital firm in the United States.
The firm, based out of the Carlson School of Management, focuses on investing in startups and digitally native companies that reflect the Gen Z experience.
“Being digitally native, technology has shaped how we live, and that’s unique for our generation,” says Savannah Guiang, a Carlson School senior and co-managing partner. “So, at Atland, we look at companies that are solving problems we’ve felt as Gen Z.”
Launched in 2018, Atland Ventures’ first fund closed at more than $1 million in 2019, with backing from University of Minnesota alumni, entrepreneurs, and Midwest-focused angel investors. Fund II began raising money in 2022 and surpassed the $1 million mark during the 2024–25 school year, bringing total assets under management to more than $2 million.
Staying rooted in Minnesota, the student team built Fund II by again tapping alumni networks and regional investors, while also securing its first institutional backer, a company that Atland Ventures previously invested in.
“It was cool to see the traction between Fund I and Fund II, where we were able to convince new groups of people to invest,” Guiang says. “We had to be super persistent in reaching out to everyone we knew and to everyone those people knew.”
A unique learning experience
Atland Ventures currently includes 28 students, many of whom attend the Carlson School. Students are recruited early in their college careers to ensure multi-year involvement.
“Having different perspectives helps us when we’re evaluating a company,” says Elijah Ward, a co-managing partner of the firm. “I’m a finance major, so I’ll know to ask the finance and business questions, but when we’re investing in a technology startup, it’s helpful to have someone with the technical background as well.”
In addition to raising funds, students handle day-to-day operations, manage prior investments, research new companies, promote the firm, and recruit future partners.
The firm’s portfolio includes a variety of startups and digital-focused companies such as Knit, a video-based marketing insights firm, Dispatch, an industrial delivery platform, and Tavolo, an automated restaurant marketing platform founded by a Carlson School alum.
The responsibility of working with real companies and managing real capital motivates everyone involved, Ward says. This includes the potential for the students to receive returns from investments.
In addition to the one-of-a-kind learning and work experience, Atland Ventures brings students unparalleled networking connections.
Ward says he believes Fund II further proves the viability of the student-owned model, bolstering this opportunity for future students.
“The fact that people are willing to invest in us, knowing that they want some piece of the Gen Z perspective in their portfolio—that’s huge,” he says. “It helps continue to make Atland an opportunity for future students.”
