Seattle VC Flying Fish raising new Opportunity Fund
Flying Fish, a venture capital firm based in Seattle, is on the lookout for new investment opportunities. They are currently in the process of raising funds for their new “Flying Fish Opportunity Fund I,” as reported in a recent SEC filing.
Since its launch in 2017, Flying Fish has been dedicated to investing in AI, machine learning, and robotics startups. Originally focused on companies in the Pacific Northwest, they expanded their scope to include Canada and beyond after raising $70 million for their second fund in 2022.
The new “Opportunity Fund” suggests that Flying Fish is seeking additional capital to make follow-on investments in their existing portfolio companies. The fund is listed as a $25 million offering in the filing. To date, Flying Fish had successfully raised $37 million for their first fund back in 2018.
In addition to this Opportunity Fund, Flying Fish also has plans to raise funds for a third fund, according to a separate SEC filing from July. Their current portfolio includes companies like Symbl.ai, Vouched, Phaidra, Orbital Materials, TrojAI, Groundlight AI, and Clarity.
Specializing in AI startups that develop both platform technologies and vertical applications, Flying Fish is led by managing partners Heather Redman, Geoff Harris, and Frank Chang. The appetite for AI investments is on the rise, with global AI deals reaching 1,245 in the third quarter, marking a 24% increase from the previous quarter, according to CBInsights.
