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.