Dealflow | June 8, 2022

Obvious Ventures crosses $1 billion in assets for “world positive” startups

Dennis Price
ImpactAlpha Editor

Dennis Price

ImpactAlpha, Jun. 8 – A $461 million haul for two new funds pushed the “world positive” fund manager’s assets under management over $1 billion. Obvious Ventures raised $355 million for its fourth flagship fund, Obvious Ventures IV, and $106 million for its second opportunity fund, Obvious Prime II.

Companies building transformative solutions to systemic challenges can deliver both profit and purpose, says Obvious’ James Joaquin. “We have a growing set of proof points.”

Mixed track record

Obvious portfolio companies Amply Power, a fleet charting startup, was acquired by BP; Inspire Clean Energy was acquired by Shell; and fintech company One Finance was acquired by Hazel.

Share prices of electric vehicle makers Proterra and Lilium have both fallen more than 70% since going public via Special Purpose Acquisition Companies, or SPACs.

Drug-discovery company Recursion Pharma is off more 75% since its initial public offering and biotech company Zymergen has plummeted more than 95% since its IPO last year.