TLDR:
Key Points:
- Flying Fish, a Seattle-based venture capital firm, is raising a new fund called “Flying Fish Fund III.”
- The firm has previously raised $70 million for its second fund in 2022 and $37 million for its first fund.
The Seattle-based venture capital firm, Flying Fish, founded in 2016, is currently in the process of raising a new fund, as indicated by a recent SEC filing. While the exact amount of the new fund, dubbed “Flying Fish Fund III,” remains undisclosed, the firm previously raised $70 million for its second fund in 2022 and $37 million for its first fund. Flying Fish focuses on investing in early-stage machine learning, AI, and robotics startups, initially prioritizing companies in the Pacific Northwest but expanding their scope after the success of their second fund. The firm’s portfolio includes investments in companies like Symbl.ai, Vouched, and Phaidra.
Heather Redman, one of the managing partners at Flying Fish, highlighted the firm’s continued emphasis on investing in AI startups, particularly those centered around AI technology and expertise. With the rise of AI startups raising significant amounts of funding, Flying Fish remains focused on supporting startups in this space. However, the fundraising environment for venture capital firms has become more competitive, with LPs seeking proven track records and differentiated value-add strategies. Despite this, several Seattle-area venture firms, including Madrona and PSL Ventures, have successfully raised new funds in recent years, showcasing the ongoing growth and potential in the region’s startup ecosystem.
Overall, Flying Fish’s new fund signifies a continued commitment to supporting early-stage AI and technology startups, leveraging its experience and expertise in the industry to drive innovation and growth in the Pacific Northwest and beyond.
