Matchstick Ventures
Boulder, United States Founded 2015 matchstick.vc Denver–Boulder ecosystem (#7 of 32)
Matchstick Ventures’s latest fund is Matchstick Ventures Fund III: $55M, 2021, #280 of 427 firms by latest fund.
The numbers
| Year | Raised |
|---|---|
| 2019 | $30M |
| 2021 | $55M |
Updates from Matchstick Ventures
Overview
Offices in Colorado and Minnesota; invests in the Rockies and North regions.
Funds
| Fund | Closed | Size | Source |
|---|---|---|---|
| Matchstick Ventures Fund III | 2021 | $55M | bizwest.com |
| Matchstick Ventures Fund II | 2019 | $30M | bizwest.com |
LPs on the record
1 private foundation lists on their latest IRS Form 990-PF, and 1 other LP reports holding Matchstick Ventures’s funds.
Find LPs that back firms like this one in Hottub’s LP Intelligence: ranked by overlap, with what each holds and how to reach it.
Reported fund performance
As reported by public LPs that invested in these funds, net of fees. “Versus vintage” ranks each fund against every other fund of the same vintage in that LP’s report, mostly private equity and venture funds. Open a fund for its cash flows and full peer ranking.
| Fund | Vintage | Net IRR | Versus vintage (IRR) | TVPI | DPI | Reported by |
|---|---|---|---|---|---|---|
| Matchstick Ventures IV | — | N/M | — | — | Fire and Police Pension Association of Colorado (FPPA) |
Fire and Police Pension Association of Colorado (FPPA): FPPA Annual Report: Asset Allocation by Category and Investment Manager, Private Capital, as of December 31, 2025. Holdings only: the annual report's "Asset Allocation by Category and Investment Manager" schedule lists each Private Capital fund of the Fire & Police Members' Benefit Investment Fund with its management fees for the year, a "1 Year Net Return %" and "Total Assets" at year-end. Total Assets is shown here as the market value, in whole dollars as printed. The report gives no commitment, contributions, distributions, vintage year, multiple or IRR per fund, so those are blank; nothing is derived or estimated. The one-year return is not an IRR (the report says its performance calculations use time-weighted rates of return, net of fees unless otherwise indicated) and is not imported; FPPA prints none for 47 funds (hired during the year, or "Not Meaningful": it does not report returns for illiquid partnership investments with less than 36 months of history). Fund names are printed in a shortened form and are shown as printed, without the report's footnote marks. All 168 funds of the Private Capital class are included as FPPA classifies them (the notes to the financial statements also count 168 Private Capital funds, "with exposure to buyout funds, venture capital and special situations"); it does not separate buyout, venture, secondaries, special situations and private credit funds. They add up to the report's Total Private Capital of $1,951,118,339 (and $22,648,007 of management fees). The schedule's Real Assets and Real Estate classes and its public-market managers are not imported. View source
About this data
Fund sizes come from firm announcements, SEC filings, and press reports, converted to US dollars near the closing date. Compiled as of October 9, 2026. Notable portfolio companies are examples from public sources, not a complete list.