There is growing recognition of the important role that collective enterprises for social impact can play in resolving grand challenges. New forms of collective organisation are appearing on a global basis, yet we still know little about the process by which they are created. Paradoxically, the literature tends to rely on the concept of individual agency to explain the emergence of collective organisations. Based on inductive research of two French cases, our analysis unpacks the key role of collective agency in collective enterprises created for social impact. By revealing three dynamics – collective entrepreneurship, collective animatorship and collective organising – and their interrelations, this study provides conceptual clarification of the understudied notion of collective agency in entrepreneurship. The study also takes a fresh look at the creation of collective enterprises for social impact beyond the vision of a ‘heroic’ entrepreneur.