VC firm 83North launches $250m investment fund to boost UK tech

International venture capital firm 83North has announced the launch of a $250m fund to invest in tech companies in the UK, Europe and Israel.

Known as 83North IV, the fund brings the firm’s – previously known as Greylock Israel –  total capital under management to $800m.

Speaking about the announcement, Laurel Bowden, partner at 83North, told Tech City News that the team was keen to continue investing in UK tech.

“The UK has a large, international tech community and very entrepreneurial culture,” said Bowden, adding “The UK will absolutely continue to be a key tech hub for the foreseeable future”.

As with previous funds, 83North IV will focus on consumer and enterprise technology companies across sectors including FinTech, E-commerce, IoT and driverless cars.

The fund, Bowden added, would seek to invest in various stages of company development, ranging from very early Seed rounds to mid-stage growth opportunities.

“Our investment size will range from as little as $1m up to $15m,” the partner confirmed.

The firm has invested in well-known UK tech firms such as Ebury, NotOnTheHighStreet and JustEat, which IPO’ed in 2014.