🫶 Fly Ventures sets its eyes on technical founders with a fresh €80M fund Fly Ventures, a Berlin-based venture capital firm focused on seed-stage European startups in enterprise and deep tech, has launched its third fund, raising €80 million. This new fund follows a €53 million fund raised in 2020 and was reportedly oversubscribed, reflecting the firm's commitment to maintaining a boutique investment approach. Founded by Gabriel Matuschka and Fredrik Bergenlid, Fly Ventures targets technical founders and invests between €1-4 million in initial funding rounds of €2-10 million. The firm operates with an equal-GP model among four partners located in Berlin, London, Paris, and Zurich. Matuschka noted the importance of covering key tech hubs, particularly as Paris has recently accelerated in technical advancements. AI has represented approximately 45% of Fly's investments, with vertical applications and industrial tech accounting for 35%, and dev tools/infrastructure for 20%. The firm's portfolio includes startups like Inato, Salv, and GitGuardian, along with Wayve, which recently raised $1.05 billion for autonomous driving technology. Additionally, Fly Ventures has invested in Zurich-based Lakera and UK-based Orbital Materials, focusing on enterprise security and materials science, respectively. 💬 Source 📌 Powered by V3V Ventures