83North announces $200M fund to invest in European and Israeli startups

83northLondon and Tel Aviv-based venture capital firm 83North (formerly Greylock IL) announced that it has raised a new $200 million fund to further invest technology startups in Europe and Israel. The company who has previously backed startups like iZettle, Just Eat, Actifio, AeroScout, Hyrbis, Just Eat, is now managing over $550 million allocated in 8 years under 3 funds.

The company who turned global after breaking up with then affiliate fund joined by Greylock Partners, is now investing mostly in European and Israeli tech businesses of any stage. Over half of the companies 83North has backed so far  have operations in the US.

Laurel Bowden, Partner at 83North in London, said: “With local presence in both London and Tel Aviv, we get access to some of the best talent in the world. That enables us to add value to entrepreneurs by exposing them to the best practices in each domain. Our FinTech portfolio is a good example of this strategy, we backed global companies like Ebury and Wonga in London, Payoneer in Tel Aviv, Bluevine and Marqeta in California and iZettle in Sweden.”

Erez Ofer, Partner at 83North in Tel Aviv, said: “We believe in the hands-on, personal approach when working with entrepreneurs to realise their visions. We 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. We invest in specific domains of expertise including data center and cloud technologies, software, marketplaces, consumer services and fintech.”

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