UK-based venture capital firm Air Street Capital has raised $232 million for its third fund, aimed at supporting AI-first startups across North America and Europe. With Fund III, Air Street becomes the largest solo GP venture firm in Europe, allowing the firm to make high-conviction investments with a single decision-maker.
- Founded in 2019 by Nathan Benaich, Air Street focuses on startups where AI enables entirely new products and industries, spanning software, techbio, physical systems, and defense.
- Its portfolio includes companies such as Synthesia, Black Forest Labs, Wayve, Sereact, Profluent, and Delian Alliance Industries, with notable exits including Graphcore to SoftBank and Adept to Amazon.
- The new fund will primarily lead early-stage rounds with checks ranging from $500,000 to $15 million, while also making a limited number of growth-stage investments up to $25 million. Air Street’s investment focus remains on AI-first software, developer tools and infrastructure, techbio and science, and defense and security.
"I am deeply grateful for the trust and partnership of an extraordinary group of long-term partners. Air Street could not have made this progress without the hard work and ambition of our founders. It is a privilege to partner with you. To the steadfast AI founder: come join our third epoch. We begin today," explains Nathan Benaich, General Partner of Air Street Capital.
- Fund III is backed by US university endowments, foundations, hospitals, and institutional investment platforms, many of which increased their commitments or are investing in a solo GP venture fund for the first time.
