Necessary Ventures

High-Level Overview

Necessary Ventures is a mission-driven venture capital firm based in San Francisco, focused on investing in startups that solve fundamental societal challenges. Their philosophy centers on backing companies that address urgent global needs—such as health crises, climate change, economic inequality, and food insecurity—rather than chasing trendy or purely commercial opportunities. By supporting founders who build scalable, technology-driven solutions, Necessary Ventures aims to catalyze both financial returns and measurable social impact. Their portfolio spans fintech, health tech, edtech, biotech (platforms only), agtech, cleantech, and climatetech, positioning them at the intersection of innovation and purpose.

Origin Story

Founded in 2020 by Neil Devani, a seasoned entrepreneur and investor with experience at Rothenberg Ventures, Clinkle, and the U.S. Senate, Necessary Ventures emerged from a conviction that venture capital should be a force for solving the world’s most pressing problems. Devani’s background in both policy and tech gave him a unique perspective on how startups can drive systemic change. The firm started with a clear thesis: invest in what the world needs, not just what’s profitable. Over time, Necessary Ventures has built a reputation for hands-on support, active coaching, and a rigorous selection process, attracting founders who are as passionate about impact as they are about growth.

Core Differentiators

• Mission-First Investment Model: Necessary Ventures prioritizes startups tackling real-world challenges, ensuring that capital flows to ventures with both commercial potential and positive social outcomes.
• Hands-On Founder Support: Beyond funding, the firm provides strategic guidance, talent acquisition help, and access to non-dilutive capital, helping founders scale sustainably.
• Broad Sector Expertise: With deep experience across fintech, health tech, edtech, biotech, agtech, and climatetech, Necessary Ventures can support founders at the intersection of technology and impact.
• Active Media & Growth Networks: The firm leverages its own media channels to amplify portfolio companies, giving them visibility and traction in competitive markets.
• Flexible Investment Approach: They lead pre-seed rounds ($1–2M) and participate in later stages up to pre-IPO, adapting to the needs of founders at different growth phases.

Role in the Broader Tech Landscape

Necessary Ventures is riding the wave of impact investing, a trend that’s gaining momentum as investors and founders alike seek to align profit with purpose. The timing is critical: with rising awareness of climate change, health disparities, and economic inequality, there’s growing demand for startups that can deliver scalable solutions. By focusing on sectors like health, climate, and financial inclusion, Necessary Ventures is helping to shape a tech ecosystem that values sustainability and equity. Their influence extends beyond their portfolio, as they advocate for a new standard in venture capital—one where impact is as important as innovation.

Quick Take & Future Outlook

Necessary Ventures is poised to play an increasingly important role in the future of venture capital, especially as global challenges intensify and the demand for mission-driven startups grows. The firm’s ability to combine rigorous investment discipline with deep founder support positions it to back the next generation of transformative companies. As impact investing continues to mature, Necessary Ventures will likely expand its reach, deepen its sector expertise, and further influence how capital is deployed in the tech ecosystem. In a world where the stakes are high, Necessary Ventures is proving that investing in what the world needs isn’t just the right thing to do—it’s the smartest way to build lasting value.