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Alternative Market Briefing

Israeli-UK venture capital firm 83North raises $400m for its 11th fund

Monday, October 03, 2022

Laxman Pai, Opalesque Asia:

Venture capital firm 83North, which invests globally with four equal partners on the team, has closed a new $400 million fund.

According to a statement from the London and Tel Aviv-based venture capital firm that it now has $2.2 billion under management.

83North has invested in nearly 90 companies, including 14 that are valued above $1 billion such as software company Celonis. Formerly affiliated with Silicon Valley-based Greylock Partners while operating independently, the group rebranded as 83North in 2015.

The 11th fund was raised from the same "small group" of LPs that have been backing 83North for years, the firm says. "Fresh funds will be used to invest across Europe, Israel, and the US, with the money coming from the firm's existing limited partners," it said. Last year, the VC firm raised $550 million of funds.

The VC's investing team is led by four partners, Laurel Bowden, Gil Goren, Arnon Dinur, and Yoram Snir.

"We raise relatively small funds. We think this is in the best interests of our entrepreneurs and investors. We don't rush to invest and are deeply involved with our companies while building close and long-term relationships with entrepreneurs," stated the company.

"This model is hard to scale. We are four equal partners; we have worked together for many years and our operation is lean. We are hands-on (we don't delegate). Our small size ensures a very high level of trust in the partnership which trans......................

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