London-based Air Street Capital has successfully closed its Fund III, securing $232 million dedicated to investing in early-stage artificial intelligence companies across Europe and North America, the firm announced on Monday.
The fund plans initial investments ranging from $500,000 to $15 million, with the flexibility for select growth-stage investments to extend up to $25 million. Under the leadership of Nathan Beniach, this significant capital raise positions Air Street Capital as one of Europe’s largest solo venture capital funds. The firm boasts an impressive portfolio, having previously backed prominent AI unicorns such as Black Forest Labs and ElevenLabs, and achieved successful exits with companies like Adept (acquired by Amazon) and Graphcore (acquired by SoftBank).
According to the Financial Times, Air Street Capital now manages $400 million in assets. This latest fund significantly surpasses its predecessor, Fund II, which raised $121 million, and marks substantial growth from its inaugural Fund I, which secured $17 million in 2020.
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