Obvious Ventures
Also known as Obvious
San Francisco, United States Founded 2014 obvious.com San Francisco Bay Area ecosystem (#1 of 32)
Obvious Ventures’s latest fund is Obvious Ventures V: $360M, 2026, #124 of 427 firms by latest fund.
The numbers
| Year | Raised |
|---|---|
| 2022 | $355M |
| 2026 | $360M |
Updates from Obvious Ventures
Funds
| Fund | Closed | Size | Source |
|---|---|---|---|
| Obvious Ventures V | 2026 | $360M | techcrunch.com |
| Obvious Ventures IV | 2022 | $355M | techcrunch.com |
LPs on the record
14 private foundations list on their latest IRS Form 990-PF, and 1 other LP reports holding Obvious Ventures’s funds.
12 more LPs are in the app. 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.
Firms whose LPs overlap
The firms sharing the most LPs on record with Obvious Ventures, relative to how many LPs each has. A peer set like this is what Find LPs ranks LPs from.
- Wavecrest Management Company, LLC
- Seae Ventures, LLC
- Material Impact Management, LLC
- Congruent Management, LLC
- Headline
- Blackhorn Ventures Management, LLC
Find LPs for Obvious Ventures and these firms: Hottub ranks the LPs that hold their funds, the ones still adding funds first.
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 |
|---|---|---|---|---|---|---|
| Obvious Ventures V | — | 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.