Key Takeaways
- • Flyover Capital closed Flyover Capital Tech Fund II and Flyover Capital Tech Fund II-QP (collectively, "Fund II") with over $60 million in capital commitments, exceeding its $50 million target.
- • The oversubscribed fund lifts Flyover Capital's total assets under management to approximately $110 million, which the firm says makes it the largest venture capital firm in Kansas.
- • Fund II will make seed and post-seed investments of $0.5 million to $2 million in rounds between $1 million and $5 million, focused on B2B and enterprise software.
- • The fund drew support from a diverse base of new and existing family offices and institutional investors, according to the firm.
- • Since its 2014 inception, the firm has partnered with 20 technology companies and reports six portfolio exits and portfolio companies across 10 states.
Summary
Flyover Capital Partners, LLC, a Kansas City-based venture capital firm focused on early-stage technology companies, announced the closing of Flyover Capital Tech Fund II and Flyover Capital Tech Fund II-QP, collectively referred to as Fund II, with over $60 million in capital commitments, according to a Business Wire release. The close exceeded the fund's $50 million target. The firm said the oversubscribed vehicle brings its total assets under management to approximately $110 million, and it describes itself as the first early-stage venture capital firm in Kansas City to surpass $100 million in total AUM.
Thad Langford, Founder and Managing Partner, said the firm set out to invest in technology companies outside traditional tech hubs and credited continued support from its limited partners. Co-founder Keith Molzer, also Founder and Managing Partner, argued that the ability to build technology companies regardless of geography, combined with limited venture capital outside California, Massachusetts and New York, supports the firm's thesis grounded in supply and demand.
The firm highlighted six exits across its portfolio, one partner-level promotion, three new investment team members, and portfolio representation in 10 states. The investment team is led by newly promoted Partner Dan Kerr, who said the team is evaluating B2B and enterprise software opportunities that complement the region's natural and industrial strengths and expects increased remote work and relocations to reinforce the region's startup capital.
Fund II will make initial seed and post-seed investments, with initial equity checks of $0.5 million to $2 million in rounds of $1 million to $5 million. The firm targets verticals including fintech, insurtech, proptech, agtech, logistics, transportation, supply chain and data security. Flyover Capital, founded in 2014, has partnered with Montage Investments, an alternative investment firm, according to the company's description.
Thad Langford, Founder and Managing Partner, said the firm set out to invest in technology companies outside traditional tech hubs and credited continued support from its limited partners. Co-founder Keith Molzer, also Founder and Managing Partner, argued that the ability to build technology companies regardless of geography, combined with limited venture capital outside California, Massachusetts and New York, supports the firm's thesis grounded in supply and demand.
The firm highlighted six exits across its portfolio, one partner-level promotion, three new investment team members, and portfolio representation in 10 states. The investment team is led by newly promoted Partner Dan Kerr, who said the team is evaluating B2B and enterprise software opportunities that complement the region's natural and industrial strengths and expects increased remote work and relocations to reinforce the region's startup capital.
Fund II will make initial seed and post-seed investments, with initial equity checks of $0.5 million to $2 million in rounds of $1 million to $5 million. The firm targets verticals including fintech, insurtech, proptech, agtech, logistics, transportation, supply chain and data security. Flyover Capital, founded in 2014, has partnered with Montage Investments, an alternative investment firm, according to the company's description.
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