Fly Ventures funding news – Berlin-based Fly Ventures has Secures its Fund III at €80 Million

Gabriel Matuschka said, “If you are a deeply technical founder or working on a hard technical problem in Europe, your funding options at the inception stage mostly suck,”.

Founders often get frustrated when they have to simplify their pitches for investors who apply standard software business models to everything. This can be a problem, especially in the early stages of deep tech development.

It often works with founders 6-9 months before they officially launch their companies.

It is led by four equal partners: Matt Wichrowski, Marie Brayer, Fredrik Bergenlid, and Gabriel Matuschka. They work in a distributed setup, with offices in Berlin, London, Paris, and Zurich.

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Matt Wichrowski, who joined Fly in 2020, explained: “We partner with exceptional technical founders from day zero. Most of these relationships begin through our network, recommending someone from DeepMind or an engineering executive recently returned from the US, who is likely to start a company in the coming year. We love being part of the formation process.”

Fredrik Bergenlid, GP at Fly Ventures and previously co-founder and lead for Google Assistant, explained: “We’re committed to backing extreme technical talent that spent years on a specific problem domain. For example, Scott Chacon, who previously co-founded GitHub, is now revolutionising developer workflows with GitButler. These types of exceptional technical founders have a vision of a vastly better future, and we use our time and capital to help them materialise this future.”

Fly Ventures invests €1 to 4 million in early-stage rounds of €2 to 8 million. Fund III was raised because Fly Ventures was the first investor in several successful companies, including the unicorn Wayve, Lakera, and Orbital Materials.

More than 75% of Fly’s portfolio companies go on to raise additional funding or get acquired, compared to the industry average of 31% for seed-stage VCs in Europe.

About Fly Ventures

Fly Ventures is a first-check VC that supports technical founders solving tough problems. They invest from the very beginning to seed stage, backing founders across Europe.