International VC firm 83North announced a new fund worth $300 million. This tips the firm’s capital under management over a major milestone, totalling $1.1 billion. The fund was led by General Partner Laurel Bowden, who has recently seen four multi-billion dollar exits: Just Eat, Hybris, iZettle, and Qlik.
The new fund will go toward consumer and enterprise technology companies led by aspiring European and Israeli entrepreneurs.
Gil Goren, partner at 83North commented on the firm’s target investment areas: “Data center and cloud, enterprise software, marketplaces and fintech are areas where we have developed world class expertise and invested in clusters of leading companies. We are also fortunate to back exceptional entrepreneurs in new and emerging areas such as IoT […] and have a growing interest in the intersection of IT and healthcare as well as vertical SaaS applications.”
With headquarters in London and Tel Aviv, the firm has demonstrated a knack for scaling their portfolio companies in these markets — and across the US market as well.
Speaking to this cross-continental success, Bowden said: “We continue to invest in all stages, where we work side-by-side with founding teams to build companies and help them scale globally. Our model gives us access to some of the best talent in the world, meaning that we can add value by exposing entrepreneurs to the best practices in each domain. Our enterprise software portfolio is a testament to this model, with companies such as Celonis founded in Germany, Siemplify founded in Tel Aviv and Via – all now operating in NYC. Other examples include Mirakl, which was founded in France, Logz.io founded in Tel Aviv and TIS founded in Germany – all now having a presence in Boston.”