Palo Alto – June 14, 2022 – Cooley advised Obvious Ventures, a venture capital firm investing in early-stage, purpose-driven entrepreneurs reimagining trillion-dollar industries, on its raise of two new funds – Obvious Ventures IV and Obvious Prime II – representing a combined $461 million in fresh capital. Partner John Clendenin led the Cooley team advising Obvious Ventures.
Obvious Ventures IV is the firm's fourth flagship early-stage fund, and Obvious Prime II is the firm's second opportunity fund. Obvious Ventures is known for its odd fund sizes, with the latest funds representing a prime number in more ways than one. "We chose primes because our focus on driving financial returns is indivisible from our purpose to fund world positive solutions to humanity's biggest challenges. We are humbled and thankful for our growing network of limited partners that believed in our purpose and invested in these new funds," James Joaquin, co-founder and managing director at Obvious Ventures, said in a blog post.
Headquartered in San Francisco and co-founded in 2014 by Joaquin, Ev Williams and Vishal Vasishth, Obvious Ventures has more than $1 billion in assets under management. Obvious Ventures was one of the first VC firms in the world to become a certified B Corp, and it has backed 100+ purpose-driven companies building transformative solutions to the systemic environmental and social challenges of our time. The firm's three investment pillars are sustainable systems, healthy living and people power.