83North holds $250m close for tech VC fund

The fund will invest in consumer and enterprise technology companies in Europe and Israel. It hopes to take advantage of the UK's exit from the EU by accelerating activity in tech hubs in other European cities.

Greylock IL rebranded as 83North and held a first and final close for its third venture fund on its $200m hard-cap in early 2015. The fund's predecessors raised around $350m combined and invested in companies including UK online restaurant delivery platform Just-Eat, which floated in 2014 with a market cap of £1.46bn. Other investments include Sweden-based iZettle and UK-based Wonga.

Greylock IL was launched as an affiliate fund of Silicon Valley VC Greylock Partners. The firm operates from offices in London and Tel Aviv.

Investments
83North IV will focus on early-stage investments in technology companies across Europe and Israel. Ticket size will range from $1-15m. 83 North has previously invested in startups headquartered in the UK, France, Germany, Greece, Italy, Spain and Sweden.

People
83North – Laurel Bowden, Arnon Dinur, Gil Goren, Erez Ofer, Yoram Snir (partners).

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• European Investment Fund
• Venture