Fly Ventures, a venture capital firm based in Berlin, has announced the successful closure of its third fund, amounting to €80 million. This fund aims to support seed-stage startups across Europe, with a keen interest in deep tech initiatives. Despite the oversubscription of Fund III, Fly Ventures managed to raise the full amount in a single closing round. The team’s strategic vision involves investing in groundbreaking fields like material science and artificial intelligence, which they believe will thrive in the coming years.
Fly Ventures previously closed a fund in 2020, amounting to €53 million, which marked a significant engagement with the European tech startup scene. This progression highlights an ongoing commitment to nurturing innovative technology companies. Historically, Fly Ventures has focused on bridging technological gaps in enterprises, seeking startups that develop modern software solutions to replace outdated systems in corporate environments. Their investment plans, they assert, represent a multi-trillion-dollar shift in the enterprise technology landscape.
What Drives Fly Ventures’ Investment Strategy?
Fly Ventures, co-founded by Gabriel Matuschka and Fredrik Bergenlid, operates with a clear focus on technical founders who aim to innovate in niche industry segments. The firm typically invests between €1 million and €4 million in early-stage funding rounds of €2 million to €10 million. They prioritize backing companies that aim to modernize enterprise systems, thus closing the gap between consumer-grade technology and business solutions. This strategy underscores Fly Ventures’ role in the digital transformation of enterprise infrastructure.
How Does Fly Ventures Leverage Its Expertise?
The expertise within Fly Ventures is diverse, with team members like Fredrik Bergenlid, who played a pivotal role in developing Google (NASDAQ:GOOGL) Assistant, and Gabriel Matuschka, who led Partech Ventures’ Berlin office before launching Fly. This cross-functional team enhances Fly Ventures’ ability to evaluate and support promising startups. They also recently enlisted Matt Wichrowski from Entrepreneur First to strengthen their foothold in the UK market. Such strategic hires reflect the firm’s commitment to expanding their influence and expertise across Europe.
Fly Ventures is supported by InnovFin Equity, backed by the European Union’s Horizon 2020 Financial Instruments and the European Fund for Strategic Investments. This backing is pivotal in reinforcing their investment capacity and credibility. Their recent investment in Carbmee, a Berlin-based startup focused on carbon emissions management, exemplifies Fly Ventures’ alignment with contemporary global challenges, leveraging advanced data analytics and AI solutions.
The investment landscape for Fly Ventures remains robust as they consistently align their strategies with technological advancements and market needs. Their focus on deep tech startups allows them to tap into sectors with substantial growth potential. By committing resources to early-stage innovation, Fly Ventures plays a crucial role in facilitating the development of technology that aligns with future industry standards.
Fly Ventures’ continued investment in deep tech startups reflects a sustained commitment to fostering technological advancement. Their cross-functional expertise and strategic financial backing position them as a vital player in the European tech investment scene. As the firm looks to the future, their focus on aligning enterprise and consumer technology could influence broader trends in the tech industry.
