To do Alt + A V on Mac in Excel, download and install Accelerator Keys, then press Option, followed by A, V.
Command: Data Validation Menu
This is how to do Alt + A V on Mac in Excel with Accelerator Keys, the native ribbon and alt key shortcut solution for Mac users who get more done with Excel.
Alt + A V opens the Data Validation dropdown menu. This menu provides options for setting up data validation rules, circling cells with invalid data, and clearing validation circles from your worksheet.