Seattle-based startup investment firm Flying Fish is raising a new fund

Left to right: Flying Fish Partners Geoff Harris, Heather Redman, and Frank Chang. (Flying Fish Photo)

Flying Fish, a Seattle-based venture capital firm formed in 2018 that invests in Pacific Northwest startups, is raising its second fund.

A new SEC filing reveals the new fund. Flying Fish Partners Frank Chang, Geoff Harris, and Heather Redman are listed on filing, which shows a total offering amount of $75 million for “Flying Fish Fund II.” The firm declined to comment when reached by GeekWire.

Flying Fish launched two years ago, raising a $80 million first fund. The firm focuses on startups building artificial intelligence and machine learning technology. It has more than 15 companies in its portfolio, including Ad Lightning, Picnic, Joe Coffee, Nomad Go, and others.

Redman is a longtime Seattle-area tech veteran who previously held leadership positions at companies such as Indix, Atom Entertainment, and Getty Images. Harris is a Microsoft vet with a background in natural language processing, machine learning, and digital commerce. Chang brings expertise in machine learning from his experience at companies such as Amazon, Audible, Microsoft and Reef Technologies.

Flying Fish added four new partners — Adriane Brown, Steven Lawler, Vanessa Pegueros, and Bonnie Foley-Wong — in November 2018.

The firm says it launched after being “united by a shared belief in Seattle’s tech talent, lack of access to venture capital, and an excitement for AI and machine learning,” according to its website.

The Seattle market has long been criticized for its lack of local startup capital, especially in the context of how much talent has migrated to the area in recent years with the growth of hometown tech giant Amazon and engineering outposts set up by Facebook, Google, Apple, Salesforce, and others.

Other newer early-stage venture firms in Seattle such as Pioneer Square Labs, Madrona Venture Labs, Fuse Venture Partners, and others are hoping to tap into the dense tech talent base across the Pacific Northwest.

Despite the ongoing pandemic, venture capital investors sunk $2.3 billion into 135 deals across the Pacific Northwest during the first six months of 2020, up from $1.1 billion in 94 deals in the first half of 2019, according to GeekWire’s tally, derived from our running list of Pacific Northwest startup investments.

Source Article