insider brief
- Tamarack Global successfully closed its Opportunities II fund for $72 million, doubling the size of its original flagship fund and bringing the venture capital firm’s total assets under management to more than $211 million.
- This latest fund aims to support companies with transformative potential in areas such as space, energy, robotics and AI.
- Opportunities II has already put capital into companies like Impulse Space, Figure AI, CHAOS Industries, Rainmaker Technology Corp., and Earth AI that are pushing the boundaries of digital and physical industries.
Tamarack Global, a deep technology-focused venture capital firm, successfully closed its Opportunity II Fund for $72 million, doubling the size of its original flagship fund and increasing the firm’s total assets under management (AUM). ) has announced that it has exceeded $211 million. This latest fund aims to support companies with transformative potential in areas such as space, energy, robotics and AI.
Since its inception, Tamarack has targeted early-stage investments in companies with the potential to have a long-term impact on society. Founder and Managing Partner John McCormick emphasized Tamarack’s vision: “We are pleased to enter into the Opportunity II agreement to invest in solutions that solve some of the most pressing problems facing society today.”
Opportunities II has already put capital into companies like Impulse Space, Figure AI, CHAOS Industries, Rainmaker Technology Corp., and Earth AI that are pushing the boundaries of digital and physical industries. These investments are in line with Tamarack’s philosophy that short-term volatility, while influencing market trends, should not derail fundamental technology investment strategies.
“Technology change is accelerating, particularly in AI and machine learning, driving down costs across the industry,” said Jamie Lee, managing partner at Tamarack. “We remain focused on the deep tech founders who are shaping industries on the planet and beyond.”
Opportunity II follows the successful blueprint of Tamarack’s first fund, which raised $31.3 million in 2019 and subsequently invested an additional $55 million in co-investments. Fund I’s portfolio includes companies in sectors such as the space economy, defense technology and energy, with notable investments made in subsequent significant rounds.
Tamarac strengthens its commitment to American industry, helping launch the New American Industrial Alliance (NAIA) during this year’s Reindustrialization Summit in Detroit. Co-founder Austin Bishop, who is also Tamarack’s general partner, founded NAIA with the goal of revitalizing America’s industrial capacity. Mr. Bishop emphasized the importance of aligning technology with industrial activities, drawing attention from companies, institutional investors, and government agencies who want to reduce their dependence on global supply chains.
Image credit: Tamarack Global
