British-Israel venture capital firm 83North announced on Monday that it raised $300 million for a fund that will invest in the “best and brightest consumer and enterprise technology companies led by aspiring European and Israeli entrepreneurs.”
Headquartered in London and Tel Aviv, 83North (formerly known as GreyLock IL) has backed over 70 global companies and remains an active venture investor in Israel.
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Among the Israeli-based or Israeli-founded companies 83North has invested in are Via, IronSource, GuardiCore, Payoneer, Playbuzz, Velostrata (acquired by Google), and WhiteSource. It has also backed the Finnish food delivery platform Wolt, which has taken off globally, and JustEat, a British food service company.
The firm says the new capital “demonstrates the on-going appeal of the firm’s unique model: providing a breadth of expertise and on-the-ground support in three strategic regions – Europe, Israel and the United States. 83North has an unrivaled ability to help founders successfully scale their businesses across these three markets.”
“We continue to invest in all stages, where we work side-by-side with founding teams to build companies and help them scale globally,” said Laurel Bowden, partner at 83North in London, in a statement. “Our model gives us access to some of the best talent in the world, meaning that we can add value by exposing entrepreneurs to the best practices in each domain.”
“Our enterprise software portfolio is a testament to this model, with companies such as Celonis founded in Germany, Siemplify founded in Tel Aviv and Via – all now operating in NYC. Other examples include Mirakl, which was founded in France, Logz.io founded in Tel Aviv and TIS founded in Germany – all now having a presence in Boston,” she added.
“We remain focused on several core domains of expertise” said Gil Goren, Partner at 83North in Tel Aviv. “Data Center and Cloud, Enterprise software, Marketplaces and Fintech are areas where we have developed world-class expertise and invested in clusters of leading companies. We are also fortunate to back exceptional entrepreneurs in new and emerging areas such as IOT (with recent investments in Wiliot and VDOO) and have a growing interest in the intersection of IT and healthcare as well as vertical SaaS applications.”