A new $232 million vehicle promises heavier solo VC support for early AI founders. Expect follow on checks up to $25 million and deeper technical backing.
London-based Air Street Capital announced the closing of Fund III at $232 million, intconcludeed to support AI companies at early stages in Europe and North America, according to a Monday announcement.
The investment amount will range from $0.5 million to $15 million, with certain growth rounds potentially reaching up to $25 million.
The round is led by Nathan Benaih, underscoring Air Street’s status as one of the largest solo venture capital funds in Europe. The fund has already backed notable AI unicorns, such as Black Forest Labs and ElevenLabs, and has recorded exits from Adept (sold to Amazon) and Graphcore (sold to SoftBank).
Asset Profile and Market Impact
The fund currently manages around $400 million, focapplying on early-stage AI projects in Europe and North America.
Fund II totaled $121 million, while Fund I, raised in 2020, was $17 million.
Air Street Capital continues to concentrate its efforts on early-stage AI projects in Europe and North America, strengthening its position among leading solo venture funds in the market.
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