Visa Foundation
Private foundation San Francisco, CA Still adding venture funds
Visa Foundation reports 5 venture funds, $24M in all.
Holdings are from its Form 990-PF return for the year ending September 30, 2025, compared with the one for September 30, 2024. That is more than a year ago: it may have added or sold funds since. Foundations file up to ten and a half months after their year ends, and the IRS publishes returns months after that. “Still adding venture funds”: its newest venture fund is a 2022 vintage, within 3 years of 2025.
The numbers
| Vintage | Venture funds |
|---|---|
| 2019 | 1 |
| 2020 | 0 |
| 2021 | 1 |
| 2022 | 1 |
Updates from Visa Foundation
Largest venture holdings
From its Form 990-PF return for the year ending September 30, 2025; “New” is a fund that wasn’t on the return before it.
| Fund, as reported | Manager | Vintage | Year-end value |
|---|---|---|---|
| Trail Mix Ventures Fund II LP Emerging manager | Trail Mix Ventures, LP | 2019 | $4.1M |
| Elevar India V LP | Elevar Equity Management Ltd. | 2021 | $3.2M |
| Ring Mission Venture Capital I | — | — | $3.2M |
| Include Ventures Fund I, LP Emerging manager | Include Venture Partners Management, LLC | 2022 | $1.5M |
| Trail Mix Venture Fund III LP Emerging manager | Trail Mix Ventures, LP | — | $486K |
In the app: 1 fund of funds, the 2 firms it pays to manage or advise on its investments. Open Visa Foundation in LP Intelligence for every fund it holds and how to reach it, or find the LPs that back firms like yours.
LPs nearby
Within 100 miles, by city: a trip to one can take in the others.
- Mimi and Peter Haas Fund
- Aphorism Foundation
- Lisa & Douglas Goldman Fund
- The Libra Foundation
- William K Bowes Jr Foundation
- The Shimon Ben Joseph Foundation Dba Jim Joseph Foundation
- Feldman Foundation Ca
- The Henderson Family Foundation
103 LPs within 100 miles in all: see them on the map.
About this data
Holdings as this foundation lists them on its Form 990-PF (Part II, lines 13 and 15). Amounts are year-end fair market value, or book value where it gives no other, not commitments or returns. As of September 30, 2025; new holdings are those not on its return for the year ending September 30, 2024. Source: IRS Form 990-PF. Funds are linked to a manager by name; a match can be wrong, and the original filing is the record. How Hottub reads its sources.
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