Obvious Ventures III, L.P.
Obvious Ventures · adviser of record: Obvious Management Services LLC · 2019 vintage
Obvious Ventures III, L.P. is a 2019 venture fund managed by Obvious Ventures, with $272mm raised (Form D, amount sold). It reported $328mm in gross assets at year-end 2025, 1.21x its size, against a peak of $447mm in 2022.
- Latest value held
- $328mm year-end 2025
- Peak
- $447mm year-end 2022
- Fund size
- $272mm Form D, amount sold
- Held vs. size
- 1.21x peak 1.64x
Value held by year-end
Gross asset value reported on Form ADV at each year-end. Dashed line: fund size. Open in the Fund Tracker
| Year-end | Gross assets | ÷ size | Change |
|---|---|---|---|
| 2025 | $328mm | 1.21x | -17% over 2 yrs |
| 2023 | $394mm | 1.45x | -12% |
| 2022 | $447mm | 1.64x | +2% |
| 2021 | $438mm | 1.61x | +52% |
| 2020 | $287mm | 1.06x | +6% |
| 2019 | $270mm | 0.99x | – |
Other funds from Obvious Ventures
- Obvious Ventures IV, L.P. 2021
- Obvious Prime II, L.P. 2021
- Obvious Growth I, L.P. 2021
- Obvious SPV I, L.L.C. 2020
- Obvious Ventures II, L.P. 2016
- Obvious Ventures I, L.P. 2013
About these numbers
Gross asset value is what the manager reports holding in the fund at each fiscal year-end, on SEC Form ADV, Schedule D. It includes the GP’s own commitment and is before carried interest, so it is not the LPs’ net return, and it does not show cash already distributed. A fall in value can mean distributions, markdowns or both. Fund size is the amount sold reported on Form D, which for some funds reflects only a first close. Private fund ID 805-9223750266. Data updated October 13, 2026.
Is this your fund?
Spot an error and email a correction. Facing DPI pressure? See how distribution financing works.