Function Collective

Monica Black, the Founder and Managing Director, makes the core investment-sourcing and vetting decisions. She concurrently serves as a Partner at Resolute Ventures and previously operated as a scout for Lightspeed Venture Partners, which indicates her network generates the primary deal flow that members evaluate.

Deal flow appears to originate primarily through Monica Black's personal scouting network — particularly her relationships with Lightspeed Venture Partners and Resolute Ventures. The Collective's Miami location and Knight Foundation backing also suggest a local pipeline of Southeast-based founders that complements the coastal venture networks.

Function Collective operates as a membership-based investment company rather than a single-family office or a traditional venture firm. It does not manage outside capital in a commingled fund; instead, family office members participate in individual startup investments on a deal-by-deal basis, resembling an angel syndicate or investment club with institutional-quality sourcing.

The firm's public record emphasizes direct startup investments rather than fund commitments. The membership organization model typically allows individual family offices to co-invest directly into companies, with no indication that the Collective aggregates capital for fund-of-funds allocations.

Function Collective targets early-stage investments — specifically seed and startup rounds. This aligns with Monica Black's scouting background, which naturally surfaces pre-institutional companies seeking their first or second significant outside capital infusion.