Flying Fish is looking for new opportunities.

The Seattle-based venture capital firm is raising money for a new “Flying Fish Opportunity Fund I,” according to a new SEC filing.

The firm declined to comment when reached by GeekWire on Thursday.

Flying Fish launched in 2017 with a thesis focused on AI, machine learning, and robotics. It initially focused on startups across the Pacific Northwest but broadened its geographic reach to Canada and elsewhere after raising $70 million for its second fund in 2022.

The “Opportunity Fund” could indicate that Flying Fish wants more capital to make follow-on investments in existing portfolio companies. It’s listed as a $25 million offering on the filing.

Flying Fish raised $37 million for its first fund in 2018.

A separate SEC filing in July revealed that Flying Fish is raising for a third fund.

The Flying Fish portfolio includes Symbl.ai, Vouched, Phaidra, Orbital Materials, TrojAI, Groundlight AI, Clarity, and other startups.

Flying Fish invests in AI startups that build both platform technologies and vertical applications.

The firm is led by managing partners Heather Redman, Geoff Harris and Frank Chang.

AI startups are gobbling a big chunk of funding these days. Global AI deal reached 1,245 in the third quarter, which was up 24% quarter-over-quarter, according to CBInsights.