Obvious Ventures closes $123 million fund for “world positive” companies. Twitter co-founder Ev Williams’ new venture capital firm Obvious Ventures confirmed the close of its first impact investing fund. The fund raised $123,456,789 for what it calls “world positive” venture capital.
“It’s the idea that world positive businesses have advantages in the market and can outperform their more traditional peers,” the firm states on its website. The firm has already made 12 investments, including one in social-change platform, Change.org.
Intel Capital creates $125 million Intel Capital Diversity Fund. With the goal of driving diversity in the tech world, Intel Capital announced a new fund to back women and minority-led startups. The fund will be managed by Lisa Lambert, who is African-American, and has already identified more than 100 qualifying start-ups.
“Diverse leaderships have diverse workforces because our networks look like us,” Ms. Lambert said.
The Impact Investment Fund raises $100 million for social and environmental impact. Australian social investor Geoff Gourley and Southbank Capital’s Julio De Laffitte developed the Sydney-based fund to invest between $100,000 and $5 million in small companies focused on renewable resources, social housing, and media.
“We want to invest in ideas that create good, but they have to make profit,” said De Laffitte. “Because that is how you sustainably solve ideas, and have the money and drive to do it again, and again.”