Firms
Overwater Ventures
California, United States
Overwater Ventures is an early-stage venture capital firm founded and led by Kristina Simmons, backing companies in human and planetary health. Its investment themes include healthcare, biology, artificial intelligence, robotics, climate technology and food innovation. The firm combines investing with practical commercialization, market-development and operating support. Its current public portfolio includes Penguin Ai’s healthcare language models, Overstory’s AI vegetation analysis, Adaptyx’s biosensor platform and medical and biotechnology businesses. Its neuroscience connection includes science adviser Alan Mardinly’s work on optogenetics and neural interfaces and venture partner Ivy Ross’s research on art and the brain; these professional affiliations are distinguished from undisclosed portfolio investments in their employers. The legal adviser is Overwater Ventures LLC, CRD317227, with founder Kristina Simmons as controlling managing member. Its March2026 filing identifies FundI, FundII and three separate special-purpose vehicles. The debut fund completed a USD20 million close announced in April2023. Later regulatory gross asset values and a USD50 million FundII offering target are not treated as new money raised. Seven named current investment, operations and advisory professionals appear in its own directory.
- Founded
- —
- Type
- Venture capital
Funds5
Team
 Vijit Sabnis Overwater Ventures, Technical Advisor | $6M$100K – $20M | San Jose, California |
Operations and support
 Alan AshworthAdvisor |
 Alan MardinlyScience Advisor |
 Carolyn Coles-DevineHead of Platform and Operations |
 Ivy RossVenture Partner |
 Kristina SimmonsFounder and Managing Partner |
 Maria MollandAdvisor |
Co-investing
Penguin Ai$25M · 2025-09-11- Penguin Ai$— · Unknown date
- Penguin Ai$— · Unknown date
Eric Larsen- Penguin Ai$— · Unknown date
- Penguin Ai$25M · 2025-09-11
Horizon Mutual Holdings- Penguin Ai$25M · 2025-09-11
John Santelli- Penguin Ai$— · Unknown date
Matt Kozlov- Penguin Ai$25M · 2025-09-11
- Penguin Ai$— · Unknown date
- Penguin Ai$25M · 2025-09-11
- Penguin Ai$25M · 2025-09-11
UPMC Enterprises- Penguin Ai$25M · 2025-09-11
Watershed Ventures- Penguin Ai$25M · 2025-09-11
Investments
| $25M2025-09-11 | Penguin Ai | Greycroft, UPMC Enterprises, SemperVirens Venture Capital, Snowflake Ventures, ManchesterStory Group, Matt Kozlov, Overwater Ventures, Horizon Mutual Holdings, Watershed Ventures |
| $—Unknown date |  BeSound | Overwater Ventures |
| $—Unknown date |  Conceive | Overwater Ventures |
| $—Unknown date |  Zero Acre Farms | Overwater Ventures |
| $—Unknown date |  Gameto | Overwater Ventures |
| $—Unknown date |  Fellow | Overwater Ventures |
| $—Unknown date |  Overture | Overwater Ventures |
| $—Unknown date |  Trial Library | Overwater Ventures |
| $—Unknown date |  Adaptyx | Overwater Ventures |
| $—Unknown date | Penguin Ai | ManchesterStory Group, Overwater Ventures, Canvas Prime, Plug and Play Tech Center, John Santelli, Eric Larsen |