London-based 83North, a global venture capital firm, announced that it has closed a $400M (nearly €407.26M) fund, bringing its total capital under management to over $2.2B.
This is the firm’s 11th fund, raised from the same small group of limited partners who have supported 83North for years, some among them have supported the firm since its beginning 16 years ago.
The raised capital will be invested across Europe, Israel and the US.
Backing global category leaders
83North is a global venture capital firm with nearly €2.23B in assets under management. The firm invests in European, American and Israeli entrepreneurs across all stages of consumer and enterprise companies.
83North says its strategy for investment remains the same as it was since starting the firm’s operations in 2006:
- The firm raises small funds and believes in the benefit of its entrepreneurs and investors. 83North takes its own time to make investments and is very active with its companies, all the while developing long-lasting bonds with business owners.
- 83North has four equal partners who have worked together for many years, and hence its small size ensures a level of trust in the partnership which translates into transparent and quick processes.
In its 16 years of operations, 83North has backed close to 90 companies, exited 30 of them and have been involved with 14 unicorns.
“We have also made tons of mistakes along the years, missed a lot of amazing companies, sometimes invested in the wrong ones (not too many times…) and many times we were just plain lucky (probably more than we acknowledge…),” says the firm in a statement.
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