Morpheus Ventures has raised $94.76 million for its third venture fund, Morpheus Ventures III, which is targeting $150 million, according to a recent regulatory filing.
Founded in 2016 by partners Mark Dyne, Joseph Miller and Murray Markiles, the Los Angeles-based firm invests in early-stage companies in the data analytics, machine learning, robotics and SaaS sectors. It manages more than $336 million in assets and has backed more than 63 companies to date.
The leadership term also includes partner Kristian Blaszczynski, chief financial officer and operating partner Gil Klier, investment partners Howard Ko and Evan Markiles, and operating partner Damien Petty.
In February 2022, Morpheus announced the final close for its oversubscribed second discretionary capital fund, which surpassed a target of $200 million in commitments. That fund was focused on investments in disruptive fintech, insurtech, proptech and robotics/automation companies, as well as selected frontier technologies.
Limited partners in Fund II included endowments, private pensions, funds of funds, corporate balance sheets, wealth managers and family offices in North America, Australia and Asia. GroveStreet, a fund of funds based in Newton, Massachusetts, and Insurance Australia Group, based in Sydney, are among the LPs in Morpheus’s prior funds.
Roughly 80 percent of the firm’s investments are in companies from outside Silicon Valley. Its team of former CEOs, operators, specialists, engineers and legal experts trained in start-up complexity help portfolio companies avoid the biggest roadblocks – from competitors to regulators to rogue employees – that can derail them as they scale, according to Morpheus’s website.
The firm’s most recent exits are Tagnos and RapidDeploy. Tagnos engaged in a strategic merger with Sonitor last August that combined Tagnos’s healthcare workflow intelligence software with Sonitor’s high-precision Real-Time Location Systems to transform asset tracking, patient flow and staff safety. RapidDeploy, a complementary cloud-native 911 service provider for public safety, was acquired by Motorola Solutions (NYSE: MSI) in February 2025.
