Flying Fish, a Seattle-based venture capital firm, is currently seeking new investment opportunities and raising funds for a new “Flying Fish Opportunity Fund I,” as indicated by a recent SEC filing. The firm was established in 2017 with a focus on AI, machine learning, and robotics, primarily investing in startups in the Pacific Northwest before expanding its reach to Canada and other areas after raising $70 million for its second fund in 2022. The new “Opportunity Fund” could potentially be used for follow-on investments in existing portfolio companies, with a listed offering of $25 million in the filing. Previously, Flying Fish had raised $37 million for its first fund in 2018 and is also in the process of raising capital for a third fund, as indicated by a separate SEC filing in July.
Flying Fish’s current portfolio includes investments in companies such as Symbl.ai, Vouched, Phaidra, Orbital Materials, TrojAI, Groundlight AI, and Clarity, among others. The firm primarily focuses on AI startups that develop platform technologies and vertical applications. The managing partners at Flying Fish, Heather Redman, Geoff Harris, and Frank Chang, lead the firm and are actively involved in making investment decisions. The rise of AI startups has seen a significant increase in funding, with global AI deals reaching 1,245 in the third quarter, a 24% increase quarter-over-quarter as reported by CBInsights. This trend indicates a growing interest and investment in AI technologies and startups.
While Flying Fish declined to comment on their recent fundraising efforts, the establishment of the “Flying Fish Opportunity Fund I” suggests a strategic move to capitalize on new investment opportunities in the AI, machine learning, and robotics space. By expanding its geographic reach beyond the Pacific Northwest and into other regions, Flying Fish aims to identify and support innovative startups with high growth potential. The firm’s previous success in raising capital for its second fund and building a diverse portfolio of investments positions it well for future growth and development. With the support of experienced managing partners, Flying Fish is well-equipped to navigate the competitive landscape of venture capital and make informed investment decisions.
As Flying Fish continues to seek new investment opportunities and raise capital for its various funds, it remains focused on supporting AI startups that are at the forefront of technological innovation. The firm’s investment thesis centered on AI, machine learning, and robotics aligns with the growing demand for advanced technologies across various industries. By investing in both platform technologies and vertical applications, Flying Fish aims to create value for its portfolio companies and generate attractive returns for its investors. The recent surge in global AI deals further validates the firm’s investment strategy and positions it well for future success in the rapidly evolving technology sector.
With the leadership of managing partners Heather Redman, Geoff Harris, and Frank Chang, Flying Fish has established itself as a reputable venture capital firm with a strong track record of successful investments in AI startups. The firm’s commitment to identifying innovative startups, providing strategic guidance, and facilitating growth opportunities underscores its dedication to supporting entrepreneurship and technological advancement. By raising capital for new funds and expanding its investment portfolio, Flying Fish is well-positioned to capitalize on emerging trends in the AI and machine learning sector and continue to drive innovation and growth in the technology industry. The firm’s continued success in securing funding and making strategic investments in high-potential startups demonstrates its ability to navigate the dynamic landscape of venture capital and deliver value to its stakeholders.
