London-based Air Street Capital has raised $232 million Fund III, with an eye on supporting early-stage AI companies in Europe and North America. The firm announced monday.
Check sizes will range from $500,000 to $15 million, with select growth investments reaching $25 million. Led by Nathan Beniach, this growth makes Air Street one of the Europe’s largest single VC fund. It has already backed notable AI unicorns like Black Forest Labs and ElevenLabs, and has seen exits from companies like Adept (sold to Amazon) and Graphcore (sold to SoftBank).
The company now has $400 million in assets under management, the FT reports. Its Fund II was $121 million, which is more than the $17 million raised for Fund I in 2020.
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