83North Closes $250 Million VC Fourth Fund Focused on European, Israeli Startups
British-Israeli venture capital 83North (formerly Greylock IL an affiliate fund of Greylock Partners), has closed its fourth fund — taking $250 million in a raise that it says was both oversubscribed and its largest to date. 83North IV brings its total capital under management to $800 million.
Building upon the successful experience of its existing funds, the new fund will invest in Israeli, European and the US startups at all stages in the consumer and enterprise segments. including in fintech, SaaS, IT, adtech and marketplaces — albeit with an emphasis on early stage businesses.
83North has invested in more than 40 startups including Hybris (acquired by SAP), ScaleIO (acquired by EMC), SocialPoint (acquired by Take-Two), Supersonic (merged with IronSource), Marqeta and Payoneer, Just Eat, Telit, Celonis, Mirakl, Via, Wandera, Workable, Wonga, Zerto, NotOnTheHighStreet, Ebury and iZettle.
83North now boasts a five-strong team of proven investing partners who have worked with the region’s most ambitious founders to create market-leading technology businesses Laurel Bowden, Arnon Dinur, Gil Goren, Erez Ofer and Yoram Snir
83North partner in Tel Aviv Yoram Snir said, “We continue to invest in all stages, with an emphasis on early investments, where we work side-by-side with founding teams to build companies from the ground up.
“Our model gives us access to some of the best talent in the world, meaning that we can add real value by exposing entrepreneurs to the best practices in each domain. Our Fintech portfolio is testament to this model, for example Ebury was founded in London, iZettle in Sweden, Marqeta in California and Payoneer started in Israel and is now headquartered in New York.”
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