Building Successful Companies with Purpose: Lessons from 10 Years at Obvious Ventures

As one of the managing directors of obvious Ventures, I'm Andrew BB, with a passion for building extraordinary businesses that drive positive change.

1. Andrew BB is a managing director at Obvious Ventures, an early-stage venture firm investing in human health, planetary health, and economic health.
2. The firm has approximately $1 billion under management and has made over 125 investments, resulting in six IPOs and nearly 20 acquisitions.
3. Andrew's background is in entrepreneurship, having started several businesses as a child and later co-founding Bigstep, an early version of Shopify.
4. He became interested in politics and technology during college, eventually moving to Washington D.C. to work in the White House.
5. After seeing the potential of the internet for driving change, Andrew moved to California to help build a web development company.
6. In 2002, he spoke at Harvard Business School (HBS) about his experiences as an entrepreneur and advised students to take risks and pursue their passions.
7. Later, after his own company faced challenges during the dot-com bubble burst, Andrew returned to HBS to speak to a new group of students, encouraging them to stay in school and avoid common startu
8. In 2005, Andrew co-founded Obvious Ventures with the goal of investing in companies that could create positive change across various industries.
9. The firm looks for strong teams and unique ideas at the seed stage and clear evidence of customer traction at the series A stage.
10. Diversity is crucial in early-stage hiring, as making the wrong hires can significantly impact a company's growth.
11. Andrew emphasizes that founders should have a clear vision for their companies, even if it evolves over time.
12. Obvious Ventures focuses on opportunities with long-term potential across three main pillars: planetary health, human health, and economic health.
13. The firm looks for investments where climate solutions make sense to a broad range of people and aims to offer a superior future through innovation and technology.
14. Andrew encourages entrepreneurs to consider the global impact of their businesses and to strive for positive change in society.
15. World-positive venture capital aims to create companies with large market caps that can address global challenges and leave a lasting impact on society.
16. Consumer behavior may be one of the last aspects to change when it comes to adopting sustainable practices, but providing better products can help drive adoption.
17. Andrew's firm looks for opportunities where innovation can create a superior future that is more resilient, lower cost, and globally accessible than previous solutions.
18. Obvious Ventures has experienced success in the solar industry, with one of their portfolio companies helping to significantly reduce the cost of solar panels.
19. Andrew stresses the importance of founders having a clear vision, determination, and grit when building their businesses.
20. The firm works closely with its portfolio companies on team development, strategy, and understanding customer needs.
21. Obvious Ventures supports founders who set ambitious goals for their companies and have a long-term plan to achieve those objectives.
22. Andrew believes in the power of technology and innovation to create a better future and address global challenges.
23. The firm aims to invest in companies that can make a positive impact on society while also generating strong returns for investors.
24. World-positive venture capital focuses on creating businesses with lasting impacts, larger market caps, and the ability to scale globally.

Source: EO via YouTube

❓ What do you think? What are the most critical factors that enable entrepreneurs and organizations to build cultures that foster long-term success, collaboration, and positive impact? Feel free to share your thoughts in the comments!