Air Street becomes one of the largest solo VCs in Europe with $232M fund

Air Street Capital, based in London, has successfully raised $232 million for its third fund, targeting early-stage AI ventures across both Europe and North America. The announcement made on Monday underscores the firm’s strategic focus on the burgeoning AI market. Investment amounts are set to range from $500,000 to $15 million, with some growth opportunities potentially reaching as high as $25 million. This substantial fundraise positions Air Street as one of the largest solo venture capital funds in Europe, under the leadership of Nathan Beniach. The firm has already made significant contributions to the AI ecosystem, backing prominent unicorns such as Black Forest Labs and ElevenLabs. Moreover, it has achieved successful exits with companies like Adept, which was acquired by Amazon, and Graphcore, sold to SoftBank. With this latest round, Air Street now boasts $400 million in assets under management, a considerable increase from its previous funds—$121 million for Fund II and just $17 million for Fund I in 2020.