83North Closes $250M Fourth Fund Focused On European, Israeli Startups !!EXCLUSIVE!!

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83North Raises $250M to Invest in European and Israeli Startups

83North, a venture capital firm that focuses on early-stage startups in Europe and Israel, has announced the closing of its fourth fund, totaling $250 million. The firm, which was formerly known as Greylock IL, has backed more than 70 companies since its inception in 2008, including Just Eat, Hybris, iZettle, Wandera, and Celonis.

The new fund will continue to invest in consumer and enterprise sectors across a broad range of tech verticals, including fintech, SaaS, e-commerce, cybersecurity, and cloud infrastructure. 83North said it will also expand its focus on health tech and insurtech, two areas that have seen significant growth and innovation in recent years.

83North has offices in London and Tel Aviv, and operates as a single global team. The firm said it leverages its cross-border expertise and network to help its portfolio companies scale globally and access new markets. 83North also said it is committed to supporting diversity and inclusion in the tech ecosystem, both within its own team and among its portfolio companies.

\"We are excited to announce our fourth fund. We believe that the European and Israeli tech ecosystems have matured significantly over the past few years, and we are seeing more entrepreneurs with global ambitions and the ability to build category-leading companies,\" said Laurel Bowden, partner at 83North. \"We are proud of the role we have played in helping our portfolio companies grow and succeed, and we look forward to partnering with more talented founders in the future.\"

83North is one of the most active venture capital firms in Europe and Israel, having invested in more than 20 companies in the past year. Some of its recent investments include Rapyd, a global fintech platform; Redis Labs, a cloud-native database provider; and Zencargo, a digital freight forwarder. 83North also participated in the Series B round of K Health, a health tech startup that uses artificial intelligence to provide personalized health information and access to doctors.

The firm's portfolio companies have collectively raised more than $10 billion in follow-on funding from leading global investors, and have achieved several successful exits. Some of the notable exits include Just Eat, which went public in 2014 and merged with Takeaway.com in 2020; Hybris, which was acquired by SAP in 2013; and iZettle, which was acquired by PayPal in 2018.

83North's team consists of former entrepreneurs and operators who have extensive experience in building and scaling global businesses. The firm's partners include Laurel Bowden, Arnon Dinur, Gil Goren, Erez Ofer, Yoram Snir, and Guy Ward Thomas. 83North also has a network of advisors and mentors who provide strategic guidance and support to its portfolio companies.

83North's new fund comes at a time when the European and Israeli tech sectors are booming, despite the challenges posed by the COVID-19 pandemic. According to a report by Dealroom and Atomico, European tech startups raised a record $41 billion in 2020, up 13% from 2019. Israeli tech startups also raised a record $10 billion in 2020, up 27% from 2019.

\"We are very optimistic about the future of the European and Israeli tech ecosystems. We see more innovation, more talent, and more ambition than ever before. We also see more opportunities for collaboration and cross-pollination between the two regions, as well as with the US and Asia,\" said Yoram Snir, partner at 83North. \"We are thrilled to have the opportunity to back the next generation of entrepreneurs who are building world-class companies that can compete on a global scale.\" aa16f39245