{"id":4529,"date":"2017-04-05T12:21:50","date_gmt":"2017-04-05T12:21:50","guid":{"rendered":"https:\/\/www.rsoftsolution.com\/blog\/83north-closes-250m-fourth-fund-focused-on-european-israeli-startups.html"},"modified":"2017-04-05T12:21:50","modified_gmt":"2017-04-05T12:21:50","slug":"83north-closes-250m-fourth-fund-focused-on-european-israeli-startups","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/83north-closes-250m-fourth-fund-focused-on-european-israeli-startups.html","title":{"rendered":"83North closes $250M fourth fund focused on European, Israeli startups"},"content":{"rendered":"


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European VC firm 83North (formerly Greylock IL<\/a>), which since 2008 has\u00a0focused on backing startups in Europe and Israel, has closed its fourth fund \u2014 taking\u00a0$250M in a raise that it says was\u00a0both oversubscribed and its largest to date, and bringing its total capital under management to $800M.<\/p>\n

The fund\u00a0says it will continue to invest in\u00a0startups in its target regions at all stages \u2014 and in both the consumer and enterprise segments, including in fintech, SaaS, IT, adtech and marketplaces \u2014\u00a0albeit with\u00a0an emphasis on early stage businesses.<\/p>\n

However Laurel Bowden, partner in London, notes that\u00a0the UK\u2019s vote to leave the European Union is encouraging\u00a0the firm to keep casting\u00a0its eye across Europe as a whole, rather than concentrating attention on\u00a0London.<\/p>\n

In a statement she noted that\u00a0the fund has already backed companies from\u00a0France, Germany, Greece, Italy, Spain and Sweden, for example, and said it\u2019s expecting European activity to accelerate in tech hubs outside London because of Brexit<\/a>.<\/p>\n

\u201cAs we look to the future, the UK\u2019s exit from the EU will accelerate activity in European tech hubs outside the UK. We believe this presents a big opportunity for venture funds, like 83North, that are already well-established in the wider European region,\u201d she said.<\/p>\n

\u201cIt\u2019s very encouraging for the European market to see such huge ambition to build global, category-leading companies. There have been fifteen exits valued at more than $1 billion that originated from Europe in the past five years compared to only a handful prior,\u201d\u00a0she added.<\/p>\n

83North has invested in more than 40 startups to date.\u00a0Portfolio companies include\u00a0Just Eat, Telit, Hybris (acquired by SAP), ScaleIO (acquired by EMC), SocialPoint (acquired by Take-Two), Supersonic (merged with IronSource), Celonis, Mirakl, Via, Wandera, Workable, Wonga, Zerto, NotOnTheHighStreet, Ebury, iZettle, Marqeta and Payoneer.<\/p>\n

<\/p>\n

Article source: http:\/\/feedproxy.google.com\/~r\/techcrunchIt\/~3\/kxz-k5PMbAo\/<\/p>","protected":false},"excerpt":{"rendered":"

European VC firm 83North (formerly Greylock IL), which since 2008 has\u00a0focused on backing startups in Europe and Israel, has closed its fourth fund \u2014 taking\u00a0$250M in a raise that it <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[19],"tags":[25],"class_list":["post-4529","post","type-post","status-publish","format-standard","hentry","category-enterprise-software","tag-enterprise"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t