Berlin-based VC Fly Ventures, which supports seed-stage European startups within enterprise and deeptech, has raised an oversubscribed €80 million Fund III in a single close.
- Established in 2016 by Gabriel Matuschka and Fredrik Bergenlid, Fly Ventures typically writes ticket sizes between €1 million and €4 million, with investments in rounds ranging from €2 million to €10 million at the inception stage.
- The firm operates in an equal-GP model of four partners across offices in Berlin, London, Paris, and Zurich. It has invested in 59 startups spanning cybersecurity, health, insurance, mobility, and sustainability sectors.
- Its portfolio includes companies like Wayve, which recently secured $1.05 billion in a Series C funding round led by SoftBank, and UK-based Orbital Materials that develops foundation models for materials science.
- With the new fund, Fly Ventures aims to keep supporting and partnering with technical founders who are tackling complex challenges and driving innovation across various industries.
"Fund III is a testament to the belief and trust of our LPs, who took a chance on us back in 2017. Their patience has been rewarded, enabling us to raise our third fund in a single closing, despite a challenging fundraising environment. We are deeply grateful to each of you for your support," Partner at Fly Ventures, Gabriel Matuschka, stated.