London-based venture capital firm Air Street Capital has secured a substantial $232 million Fund III to support early-stage AI companies in Europe and North America. The fund, led by Nathan Benaich, positions Air Street as one of Europe’s largest solo VC funds, with investment sizes ranging from $500,000 to $15 million and select growth investments up to $25 million.
Air Street Capital has a track record of backing successful AI startups, including Black Forest Labs and ElevenLabs, with previous exits such as Adept (acquired by Amazon) and Graphcore (acquired by SoftBank). The firm’s total assets under management now stand at $400 million, a significant increase from its past funds, which were $121 million for Fund II and $17 million for Fund I.
With this latest fund, Air Street Capital is well-positioned to continue supporting innovative AI startups, contributing to the growth and development of the tech ecosystem in both Europe and North America.
Source: TechCrunch