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

London’s Air Street Capital has raised $232 million Fund III and is looking to support AI startups in Europe and North America, the company announced Monday.

Check sizes range from $500,000 to $15 million, with select sizes up to $25 million. Led by Nathan Benaich, this upgrade makes Air Street one of them Europe’s largest VC fund. It has already backed prominent AI unicorns like Black Forest Labs and ElevenLabs, and has seen spin-offs from companies like Adept (sold to Amazon) and Graphcore (sold to SoftBank).

The company now has $400 million in assets under management, the FT reported. His Fund II was $121 million, up from $17 million raised in Fund I back in 2020.