Obvious Ventures Focuses on Planetary and Human Health with $360 Million Fund
Obvious Ventures completed its fifth fund with a symbolic amount reflecting its investment philosophy. The fund will focus on ventures in the areas of planetary health, human health, and economic health.
Fund Combining Investment Philosophy with Mathematical Symbolism
Technology investment firm Obvious Ventures has closed its fifth fund at $360,360,360. The firm's co-founder and managing director, James Joaquin, stated that this figure represents a holistic view of the company's three main focus areas: 'planetary health, human health, and economic health.' Obvious Ventures continues its tradition of incorporating mathematical symbolism into its fund figures.
Small Fund Size with High Return Target
Joaquin expressed that they intentionally keep their fund sizes small, so that a single successful investment, if it becomes a durable public company, has the potential to return the entire fund. Beyond Meat, which is among the firm's early investments and whose value has fluctuated significantly post-IPO, reflects the thinking behind this strategy.
Exits and Ongoing Success Stories in the Portfolio
Obvious Ventures' portfolio includes public success stories such as satellite imaging company Planet Labs and Recursion Pharmaceuticals, which uses AI in drug development. Additionally, an early investment in the HR and payroll platform Gusto is drawing attention with its IPO expectations. Considering that in the industry, only about 17% of firms are able to raise more than three funds, the completion of the fifth fund strengthens the company's position.
Artificial Intelligence and Climate Technology as Prominent Investment Areas
In the planetary health domain, the firm has invested in Zanskar, which uses proprietary data and AI to identify geothermal energy sources. Geothermal energy's potential to power energy-intensive AI data centers is noteworthy. In the human health segment, the AI platform for molecule development, Inceptive, stands out.
Robotics and Automation in the Economic Health Focus
One of the investments in the economic health area, Dexterity Robotics, is developing humanoid robots to take over the 'boring, dirty, and dangerous' jobs done by people in warehouses and factories. Similarly, the retail sector is evaluating in-store automation and AI solutions for similar purposes. Obvious Ventures plans to invest approximately $5 to $12 million in about 10 startups per year, at the seed and Series A stages.
