OVO Fund

# OVO Fund: Early-Stage Venture Capital Powerhouse

High-Level Overview

OVO Fund is a Palo Alto-based venture capital firm specializing in seed and pre-seed investments, primarily in the Bay Area and Los Angeles. The firm’s mission is to back visionary founders at the earliest stages—often before a product or customer base exists—providing not just capital but deep operational support and conviction. OVO Fund’s investment philosophy centers on empowering founder-led ventures, especially those with bold, category-defining ideas in technology-driven sectors. Their portfolio spans applied AI, enterprise tech, fintech, digital health, Web3, consumer, and SaaS, with a focus on companies that can scale efficiently and create lasting impact.

OVO Fund has played a pivotal role in shaping the early-stage startup ecosystem, helping founders navigate the uncertain terrain of idea validation and initial growth. Since its inception, OVO has backed over 79 startups, including eight unicorns such as Payjoy, Sourcegraph, and Addepar, collectively generating more than $32 billion in portfolio value and supporting over 12,500 jobs. Their hands-on, founder-centric approach has made them a trusted partner for entrepreneurs at the most formative stages of company building.

Origin Story

Founded in 2013 (with some sources citing 2014), OVO Fund was established by a group of seasoned investors and operators who recognized a gap in the market for truly early-stage, founder-focused venture capital. The firm was built on the belief that the most transformative companies often begin with raw ideas and unproven founders, and that the right support at the earliest stage can dramatically increase the odds of success. Key partners include Eric Chen, the founder and managing partner, alongside Gianfranco Filice and other advisors with deep roots in Silicon Valley.

Over the years, OVO Fund has evolved from a small, niche fund to a recognized leader in pre-seed investing, raising multiple funds and expanding its network of industry veterans. Their focus has remained consistent: to be the first call for founders, offering not just capital but mentorship, strategic guidance, and access to a powerful ecosystem of advisors and co-investors.

Core Differentiators

• Pre-Seed Specialists: OVO Fund excels at investing at the “negative one to zero” stage, where ideas are nascent and the path forward is unclear. They are known for backing founders before traditional metrics like revenue or traction exist.
• Founder-Focused Partnership: The firm prioritizes founder-led ventures, empowering entrepreneurs to shape their vision without interference. Their success is measured by the success of their founders.
• Human-Centric Approach: OVO Fund emphasizes the personal growth of founders, offering support through every pivot and milestone, recognizing that building a company is as much about personal resilience as it is about business strategy.
• Extensive Network: Leveraging decades of industry experience, OVO Fund connects founders with a broad network of mentors, operators, and co-investors, providing value beyond capital.
• Track Record: With eight unicorns and over $32 billion in portfolio value created, OVO Fund has a proven ability to identify and nurture breakout companies.

Role in the Broader Tech Landscape

OVO Fund is riding the wave of a growing trend toward earlier-stage investing, as the cost of launching a tech startup continues to fall and the pace of innovation accelerates. Their focus on applied AI, enterprise tech, and fintech aligns with some of the most dynamic sectors in the global economy, where new technologies are reshaping industries and creating new markets. By supporting founders at the earliest stages, OVO Fund helps drive the creation of new categories and fuels the engine of technological progress.

The timing is particularly favorable, as the rise of remote work, cloud infrastructure, and open-source tools has lowered barriers to entry for startups. OVO Fund’s emphasis on capital efficiency and founder empowerment resonates in an environment where speed and agility are critical. Their influence extends beyond their portfolio, as they help set standards for how early-stage venture capital can best support innovation and entrepreneurship.

Quick Take & Future Outlook

OVO Fund is poised to remain a leading force in early-stage venture capital, especially as the demand for pre-seed funding continues to grow. The firm’s ability to identify and nurture visionary founders, combined with its deep network and operational expertise, positions it well to capture the next wave of transformative startups. As new technologies like AI, Web3, and digital health mature, OVO Fund’s sector focus and founder-centric philosophy will likely continue to yield outsized returns and shape the future of the tech ecosystem.

In a world where the earliest stages of company building are more important than ever, OVO Fund’s commitment to being the first call for founders—through every pivot and milestone—ensures they will remain a vital partner in the journey from idea to impact.