Obvious Ventures closes an irrationally sized third fund




Web Summit 2018 - Day 4
Web Summit 2018 - Day 4  

Obvious Ventures, the firm co-founded by Medium CEO and Twitter co-founder Ev Williams, announced today that it has closed its third fund "OV3" at $271,828,182, a number that the graphing calculator-owning among us may recognize as e or Euler's number.

When asked whether the firm had to return any LP money just so it could land at its magic number, Obvious's Gabe Kleinman threw a "no comment" my way.

The firm has a bit of a tradition in being cutesy with its fund sizes. Their first fund was $123,456,789 and the second fund clocked in at $191,919,191. The focus on the naming scheme isn't an accident, there isn't too much to draw attention to with this fund in terms of changes to Obvious's investment strategies, Kleinman tells TechCrunch.

"We're investing in companies that are reimagining trillion dollar categories," Kleinman tells TechCrunch. "... and these play out across our three themes, which are sustainable systems, healthy living and 'people power.'"

Obvious saw some successful exits in 2019, including the public offering of Beyond Meat.

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