A London-based venture firm is strengthening its position in the AI investment space with a significant new fund aimed at early-stage startups. Air Street Capital has announced the close of its $232M Fund III, focusing on backing AI companies across Europe and North America.
The fund will deploy cheque sizes ranging from $500,000 to $15M, with select growth-stage investments going up to $25M. Led by Nathan Benaich, this latest raise positions the firm among the largest solo venture capital funds in Europe.
Air Street Capital has already built a strong portfolio in the AI ecosystem. It has backed unicorns such as Black Forest Labs and ElevenLabs. The firm has also recorded notable exits, including Adept, which was sold to Amazon, and Graphcore, which was acquired by SoftBank.
With this new fund, the firm’s total assets under management have reached $400M, according to a report by a financial publication. This marks a sharp growth trajectory from its earlier funds, with Fund II at $121M and Fund I at $17M raised in 2020.
The latest raise highlights increasing investor confidence in AI-driven innovation and reinforces Air Street Capital’s focus on supporting the next generation of AI startups.
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