Insider Brief
- Tamarack Global has successfully closed its Opportunities II fund with $72 million, doubling the size of its initial flagship fund and bringing the venture capital firm’s total assets under management to over $211 million.
- This latest fund aims to support companies with transformative potential in sectors such as space, energy, robotics, and AI.
- Opportunities II has already deployed capital in companies like Impulse Space, Figure AI, CHAOS Industries, Rainmaker Technology Corp., and Earth AI, which are pushing the boundaries in digital and physical industries.
Tamarack Global, a venture capital firm focused on deep tech, announced it has successfully closed its Opportunities II fund with $72 million, doubling the size of its initial flagship fund and bringing the firm’s total assets under management (AUM) to over $211 million. This latest fund aims to support companies with transformative potential in sectors such as space, energy, robotics, and AI.
Since its inception, Tamarack has targeted early-stage investments in companies with the potential for long-term societal impact. Founder and Managing Partner John McCormick emphasized Tamarack’s vision: “We are delighted to close on Opportunities II, which will invest in solutions that solve the most pressing problems we face as a society today.”
Opportunities II has already deployed capital in companies like Impulse Space, Figure AI, CHAOS Industries, Rainmaker Technology Corp., and Earth AI, which are pushing the boundaries in digital and physical industries. These investments align with Tamarack’s philosophy that while short-term volatility affects market trends, it should not derail investment strategies in fundamental technologies.
“Technological shifts are accelerating, particularly in AI and machine learning, which are driving down costs across industries,” said Jamie Lee, Tamarack’s managing partner. “We remain focused on deep tech founders who are shaping industries on Earth and beyond.”
Opportunities II follows the successful blueprint of Tamarack’s first fund, which raised $31.3 million in 2019 and later invested an additional $55 million in co-investments. Fund I’s portfolio included companies in sectors like the space economy, defense-tech, and energy, with notable investments that have seen significant follow-on rounds.
Furthering its commitment to American industry, Tamarack helped launch the New American Industrial Alliance (NAIA) this year during the Reindustrialize Summit in Detroit. Co-founder Austin Bishop, who also serves as a general partner at Tamarack, established NAIA with the aim of rejuvenating U.S. industrial capacity. Bishop highlighted the importance of aligning technology with industrial activities, drawing interest from companies, institutional investors, and government entities eager to reduce dependency on global supply chains.
Image credit: Tamarack Global
