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FPV Ventures is a venture capital firm founded in 2021 by Wesley Chan and Pegah Ebrahimi, based in the United States. The firm operates under the guiding principles of Founders, Purpose, and Vision, emphasizing support for mission-driven entrepreneurs. FPV Ventures aims to build resilient companies that create long-term value. As of April 2025, the firm closed its second fund at $525 million, bringing its total assets under management (AUM) to nearly $1 billion.
Initially, FPV Ventures raised approximately $456 million for its first fund, which was 15% less than the second fund. The firm focuses on early-stage investments, specifically in the pre-seed, seed, and seed-plus stages, with substantial reserves for follow-on investments. The firm’s headquarters is located in the United States, and it has a portfolio that includes notable companies across various sectors.
FPV Ventures invests primarily in early-stage companies led by purpose-driven founders. The firm targets sectors such as fintech, biotech, healthcare, and climate, emphasizing innovation and transformative potential. Investment stages range from pre-seed to seed-plus, with initial check sizes that allow for substantial follow-on reserves. The firm seeks entrepreneurs who are deeply committed to their vision and mission, aligning with its investment thesis of long-term value creation over short-term trends.
FPV Ventures also manages capital for mission-aligned institutions, including universities and hospitals, which reinforces its commitment to supporting companies that create societal impact. The firm’s investment strategy is designed to identify and back founders who are building resilient businesses capable of compounding value over time.
FPV Ventures has a diverse portfolio of 11 companies across various sectors. Notable portfolio companies include:
Among its notable exits, FPV Ventures has seen success with companies like Fig, which was acquired by Amazon, and X1 Card, acquired by Robinhood. The firm’s portfolio reflects its commitment to investing in mission-driven companies that aim to create significant societal impact.
Wesley Chan: Co-Founder & Managing Partner. Wesley has a 14-year career at Google, where he founded Google Analytics and Google Voice. He was also a former Partner at Google Ventures (GV), bringing deep expertise in product-led growth.
Pegah Ebrahimi: Co-Founder & Managing Partner. Pegah served as the former COO of Morgan Stanley's Technology Investment Banking and was the youngest global CIO of Morgan Stanley Bank. Her background includes significant experience in enterprise go-to-market strategies and institutional finance.
To pitch FPV Ventures, founders should visit their website at fpvventures.com. The firm prefers pitches that include a clear articulation of the startup's mission, market potential, and how it aligns with FPV's focus on long-term societal impact. Founders should expect a response time that varies based on the volume of applications but should be prepared for a thorough evaluation process.
In April 2025, FPV Ventures closed its second fund at $525 million, which was raised in approximately two months. This fund is 15% larger than its first fund, indicating strong confidence from limited partners following the performance of its initial investments.
Notable portfolio companies include Canva, Flexport, and Databricks, with the firm actively investing in sectors such as fintech, biotech, and healthcare. FPV Ventures continues to position itself as a leading venture capital firm focused on mission-driven entrepreneurship.
What are FPV Ventures' investment criteria?
FPV Ventures focuses on early-stage companies led by purpose-driven founders in sectors such as fintech, biotech, healthcare, and climate. The firm invests in pre-seed, seed, and seed-plus stages, looking for entrepreneurs with a strong conviction in their vision.
How can I apply or pitch to FPV Ventures?
Founders interested in pitching to FPV Ventures can visit their website at fpvventures.com for more information on the application process.
What makes FPV Ventures different from other firms?
FPV Ventures emphasizes mission-driven investing, aligning its capital with institutions that share similar values. This approach creates synergies between portfolio companies and their funding sources.
What is the geographic scope of FPV Ventures' investments?
The firm primarily invests in the United States but has some global portfolio companies, such as Canva, which is based in Australia.
What is the fund size and check size range for FPV Ventures?
FPV Ventures' second fund closed at $525 million, with initial checks typically made in the pre-seed to seed-plus stages, allowing for substantial follow-on investments.
What type of post-investment involvement does FPV Ventures have?
FPV Ventures actively supports its portfolio companies through industry expertise, connections, and resources, particularly in product-led growth and institutional finance.
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