Seattle-based venture capital firm Flying Fish Partners is looking to raise a $100 million fund, according to a Friday filing with the Securities and Exchange Commission.
The fund would be the third for Flying Fish. The firm raised a $70 million fund, its second, in May 2022.
In an email to the Business Journal, Flying Fish managing partner and co-founder Heather Redman said the firm couldn't comment on the SEC filing.
Flying Fish was formed in 2017 but began investing in 2018 with its first fund, which was $37 million. The firm is focused on early-stage companies in artificial intelligence and machine learning. Its portfolio includes the industrial AI company Phaidra and the data science startup YData.
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On its website, Flying Fish says it believes "artificial intelligence and machine learning will disrupt every industry."
Flying Fish last year named J.P. Morgan veteran Heather Gorham as principal. The move followed the hiring of Tiffany Linke-Boyko in 2022 to lead the firm's new Canadian operations. Also that year, Flying Fish named Adriane Brown, former president and chief operating officer at Intellectual Ventures, as managing partner and Lisa Nelson, co-founder of M12, as a venture partner on the second fund.
"The big message that we've been putting out there is that we're trying to hire the people that will ultimately replace us," Redman told the Business Journal after the firm raised its second fund. "If you don't really start thinking as early as possible about succession planning, you won't successfully build a firm. A lot of firms fail because they don't think about that."
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