83North launches $200m fund for European and Israeli tech entrepreneurs
Greylock IL rebrands as 83North with latest fund set to help "build the next global tech companies"
Global venture capital firm 83North – formerly Greylock IL – has announced it has raised $200m in funding to invest in all stages of consumer and enterprise technology companies led by European and Israeli entrepreneurs.
This is the third such fund raised in eight years, and with the help of its four investing partners, Laurel Bowden, Arnon Dinur, Erez Ofer and Yoram Snir, has previously been used to back more than 30 companies including – Actifio, AeroScout, Hybris, Just Eat, ScaleIO, SocialPoint, Supersonic, Telit and Zerto.
83North – whose new name is the sum of the geographic latitudes of London and Tel aviv – has raised $550m in capital under management to date, creating global businesses and helping technology entrepreneurs realise their visions by investing at an early stage and as companies continue to grow.
Commenting on the fund, 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 financial technology.”
83North London partner, Laurel Bowden, continued:
“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.”