Posted on October 7, 2019 by staff

Major technology investor breaks $1bn barrier


International venture capital firm 83North has closed an oversubscribed $300 million fundraising, bringing its total capital under management to over $1.1 billion.

83North says it will deploy the new capital with the best and brightest consumer and enterprise technology companies led by aspiring European and Israeli entrepreneurs.

Headquartered in London and Tel Aviv, the five-strong 83North team has worked with the region’s most ambitious founders to create market-leading technology businesses.

Laurel Bowden, Arnon Dinur, Gil Goren, Erez Ofer and Yoram Snir have backed more than 70 companies including Aeroscout (acquired by Stanley Black & Decker), Bluevine, Celonis, Ebury, Hybris (acquired by SAP), IronSource, iZettle (acquired by Paypal), Just Eat,, Marqeta, Mirakl, ScaleIO (acquired by EMC), SocialPoint (acquired by Take-Two Interactive), Vast Data, Via, Wolt and Zerto.

The firm’s unique model is to provide a breadth of expertise and on-the-ground support in three strategic regions – Europe, Israel and the United States.

“We continue to invest in all stages, where we work side-by-side with founding teams to build companies and help them scale globally,” said Bowden, partner at 83North in London.

“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, founded in Tel Aviv and TIS founded in Germany – all now having a presence in Boston.”

Goren, partner at 83North in Tel Aviv, said: “We remain focused on several core domains of expertise.

“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 (with recent investments in Wiliot and VDOO) and have a growing interest in the intersection of IT and healthcare as well as vertical SaaS applications.”