FPV Ventures

What FPV Ventures does

FPV Ventures is a US-based venture capital firm founded in 2022 by Pegah Ebrahimi and Wesley Chan, headquartered in San Francisco with an additional operating presence in Wilson, Wyoming. The firm invests exclusively in mission-driven founders pursuing long-horizon, '100-year plan' company-building across technology sectors including artificial intelligence, fintech, biotech, healthcare, quantum computing, enterprise software, and defense-adjacent technology. FPV positions itself as a 'founder service' investor — meaning operating-support-first, capital-second — leveraging Ebrahimi's institutional finance and go-to-market background (ex-COO of Morgan Stanley Technology Investment Banking, ex-COO of Cisco Collaboration) and Chan's product-led growth background (founder of Google Analytics and Google Voice, 17 patents from Google Ads work) to support portfolio companies beyond capital deployment.

FPV's products are its fund vehicles: a $450 million debut fund closed in June 2022 and a $525 million successor fund closed in April 2025, giving the firm roughly $975 million in AUM across two vehicles. The portfolio spans 30+ active and exited companies, including multiple decacorns and unicorns such as Canva, Databricks, Flexport, Guild, and PsiQuantum, with named exits including Fig (acquired by Amazon) and X1 Card (acquired by Robinhood). Capital is raised from a differentiated LP base of cause-driven organizations — universities, hospitals, foundations, and research organizations — whose missions mirror those of the portfolio founders. FPV generates revenue through standard venture fund economics: recurring management fees on AUM plus lumpy carried interest from portfolio exits.

FPV does not develop proprietary technology products. Its distribution is relationship-driven on both sides of the market: founders come inbound via the partners' networks and brand reputation (Forbes Midas List 2024, recurring Bloomberg/TechCrunch/Forbes coverage), while LP commitments are sourced through enterprise-style relationship fundraising. Recent strategic activity in 2025–2026 shows an increasing share of lead-investor positions across AI infrastructure, healthcare AI, fintech, and defense-tech rounds, suggesting the firm is moving from early-stage check-writer toward more active lead-investor and governance roles as Fund II deploys.

Name

FPV Ventures

Legal name

FPV Ventures, LLC

Website

https://fpvventures.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

1–10 employees

Short description

FPV Ventures is a US venture capital firm founded in 2022 by Pegah Ebrahimi and Wesley Chan that invests in mission-driven, long-horizon founders across AI, fintech, biotech, healthcare, quantum, and enterprise software through two funds totaling roughly $975 million in AUM.

Ownership category

akta.pro rank

Product category

Venture Capital

NAICS

Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro primary industry

Early-Stage Venture Capital (Series A/B) (FSANAAAB)

Keywords

• Venture capital investing
• Early-stage funding
• Startup fund management
• Mission-driven founders
• Portfolio investment

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Venture capital fund management: FPV Ventures generates revenue through standard venture capital fund economics, including management fees on assets under management (AUM) and potential carried interest (carry) from successful portfolio exits. The firm raised a $450 million debut fund in June 2022 and a new $525 million fund in April 2025, indicating active AUM growth and recurring fee-based revenue, with carry realized when portfolio companies exit or liquidate.

Go-to-market motion2 records

Marketing channels5 records

Core offering

FPV Ventures is a venture capital firm that invests early-stage capital in mission-driven technology founders across AI, fintech, biotech, healthcare, quantum computing, and enterprise software. The firm manages two flagship venture funds ($450M debut fund closed June 2022 and $525M successor fund closed April 2025), deploying capital directly into category-defining startups while providing operating expertise in go-to-market strategy and product-led growth.

Product overview

FPV Ventures is a venture capital firm — not a software product company — that offers a platform-plus-modules architecture in the form of successive investment funds (its $450 million debut Fund I and a $525 million Fund II) deployed in support of mission-driven founders. The firm itself is the unified investment vehicle, and its underlying "modules" are the portfolio companies it has backed across sectors including design (Canva), quantum computing (PsiQuantum), logistics (Flexport), education (Guild), data and AI (Databricks), biotech (Strand Therapeutics, Enveda, Manifold Bio, Xilis), fintech (Yendo, X1 Card, Astra, Aibidia), enterprise security and IT (XOPS, Edera, Credo.ai, Reken, Vectara, OneLeet), healthcare (Taro, Charlie), and developer tools (Fable, Speakeasy, LatticeFlow). Together these funds and portfolio holdings constitute FPV Ventures' overall service offering.

Differentiator

Problem solved

Functional benefit

Products and services

• FPV Ventures Fund I ($450M Debut Fund) FPV Ventures' debut $450 million venture capital fund, anchored by cause-driven LPs including universities, hospitals, foundations, and research organizations, and deployed into category-defining early-stage startups such as Canva, PsiQuantum, Guild, and Flexport.
• FPV Ventures Fund II ($525M New Fund) FPV Ventures' second flagship venture capital fund of $525 million, announced in April 2025, used to back mission-driven founders across technology sectors including AI, fintech, biotech, healthcare, and enterprise software.

Quantifiable outcome

• 5 decacorn ($10B+) and 20+ unicorn ($1B+) investments by Wesley Chan alone
• +2 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Felicis Ventures: Felicis is a similarly-sized, founder-led early-stage VC that has backed Canva and other mission-driven founders; its founder Aydin Senkut has a comparable operator-investor background, making it a direct peer in stage, check size, and philosophy.
• Forerunner Ventures: Forerunner is a mission-driven, founder-led early-stage VC led by Kirsten Green, focused on purpose-led consumer and commerce brands. Comparable in ethos (mission-led investing) and stage (seed/Series A), though more consumer-tilted.
• Obvious Ventures: Obvious Ventures, co-founded by Ev Williams, is one of the original "mission-driven" VCs targeting founders building world-positive companies. Direct philosophical peer to FPV's 100-year-plan thesis.
• Unusual Ventures: Unusual Ventures is a founder-led, operator-driven early-stage VC that emphasizes founder service and product-led growth support. Comparable in team size, stage focus, and operating-expertise model to FPV.
• First Round Capital: First Round is a leading seed/Series A firm with a strong community-led founder-service model and brand that attracts mission-driven technical founders. Comparable in stage, founder-led ethos, and brand-driven deal flow.

Broad incumbents

• Founders Fund: Founders Fund is a larger, established multi-stage firm known for backing mission-driven "crazy" founders with conviction. Comparable first-principles investing philosophy, though typically writing larger, later-stage checks.
• Andreessen Horowitz (a16z): a16z is a multi-stage, multi-fund platform that increasingly writes seed/Series A checks (including alongside FPV in Formation Bio). Comparable in founder-brand-driven deal flow and broad tech sector coverage, though far larger.
• Lightspeed Venture Partners: Lightspeed is a multi-stage VC that has co-invested with FPV in multiple 2026 rounds. Comparable in early-stage, sector-diverse thesis and emerging-manager backing, though at materially larger AUM.
• GV (Google Ventures): GV is the venture arm of Alphabet, directly comparable through Wesley Chan's prior Google operating tenure and current co-investment relationship (e.g., Translucent). Operates as a broader multi-stage platform.
• Khosla Ventures: Khosla Ventures is a high-conviction, first-principles VC that backs mission-driven founders in deep tech, biotech, and AI. Comparable in willingness to back contrarian, long-horizon founders, though at much larger fund sizes.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/posts/pegahebrahimi_canva-backer-fpv-ventures-raises-new-525-activity-7322607063568711681-oeJa
• Xx.com/FPVventures

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments53 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about FPV Ventures